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Question about a will being written by an attorney. I like the idea of the attorney having official access to the will, such as an official copy of it or having the official will. A relative had a will done like this in a midwestern state.
However, when my Florida attorney wrote up my will a few years ago, the attorney didnt want any part of being a keeper of the will, even though I asked about it.
Does anyone know if each state has laws about whether an attorney can become the official keeper of the will or whether the will can be officially recorded in a state level database or similar (likely protected from public view on need-to-know basis). Anyone have insight on Florida?
Want to avoid "what if" scenario where a relative that was left off the will - gained access to the will and burned it, so they can then inherit via Intestate Succession.
Lawyers are required by their state bar association to maintain client files generally for five years. After that, they may destroy the records. So, I would think a lawyer would have to have a copy of your will on file for five years.
We have what might be a substantial estate. Some were inherited from my mother some were our own savings etc.
After my dad died without a will in 1990 and it was a f'ing mess, my mother (who he was divorced from, but left her on the insurance accounts, etc) got her affairs in order. So when she died it was a seamless process, multiple properties etc. Everything divided by 4, who got what etc. I was the executor and it was relatively easy.
So when our time came to do wills etc we went with a revocable trust and all the medical stuff. The questions that were asked about how we wanted our only child to receive the assets were eye-opening. Not something an online will would have given us
Most of this was because she was a minor at the time (16), and how and when she would receive the $ was important.
The lawyer suggested % of money distributed at various ages. If we were to die tomorrow, she would be a 21 yr old with considerable assets, a dangerous combination. So she gets living, education, and medical expenses paid (within reason) and she needs to be employed, have a certain credit score, and be a productive member of society.
These amounts (%) change as she gets older, but she does not have total control of the $ until she is 50. Of course, she can buy a house with it, send her kids to school etc but the idea is to create generational wealth, not for her to live the life of Riley, blowing through it traveling the world etc. If she were to go to rehab, for instance, it would pay for that, but seriously restrict access.
She will also inherit $ from all 3 of my brothers, as they have no children and she is the only relative. We all use the same Financial manager who has copies of all the pertinent information.
Those situations are something that only a lawyer, not an online form, would be able to ask and from experience provide guidance.
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