Do i need a will

[Fillmont]

Strange. Maybe I've just not been working with the right banks.

I still contend that the easiest solution is for someone to go talk to the bank and make sure that the bank understands their wishes. Have a sit down and tell them straight what you want to happen with the account if a death should occur - reasonable banks will know what to do, and unreasonable banks should lose your business.

The reason this is a better option is because it can still be done sans-attorney. To get a decent will involved (and the free ones done from the net always seem to have glaring issues), and to get the will probated properly and in a timely fashion, will mostly require some attorney oversight. Talking with the bank for such a simple thing is still the more cost effective measure.

Sorry that your Dad had to go through all that nonsense though.

[momof2dfw]

Originally Posted by Fillmont

Strange. Maybe I've just not been working with the right banks.

I still contend that the easiest solution is for someone to go talk to the bank and make sure that the bank understands their wishes. Have a sit down and tell them straight what you want to happen with the account if a death should occur - reasonable banks will know what to do, and unreasonable banks should lose your business.

The reason this is a better option is because it can still be done sans-attorney. To get a decent will involved (and the free ones done from the net always seem to have glaring issues), and to get the will probated properly and in a timely fashion, will mostly require some attorney oversight. Talking with the bank for such a simple thing is still the more cost effective measure.

Sorry that your Dad had to go through all that nonsense though.

You can talk to someone at the bank and even the branch manager. That does not gaurantee that nothing will be done. What if that person is moved to another location? Or moved on to another job? It's going to be hearsay and since it's not in writing the wishes of the deceased then the bank can do as they see fit.

I'm on a first name basis w/ everyone at our bank. They know we have a living trust, LLC's, etc...... I'm still not going to go about my business based solely on their word that they will do what I want. I've got it in legal docs exactly how things should be conducted and such when one of us dies. No one can say, "She told me....." or "He told me......". It's all in writing, signed and witnessed.

With the way banks are nowadays..... there is not gaurantee the person you talk to today will still be there tomorrow.

[Fillmont]

I didn't mean to have it only on a verbal basis, I meant that you (the proverbial you) should talk to the bank to get the proper paperwork done, so that no matter who is at the bank when you die, the proper papers are filled out.

Of course, the more complicated an estate, the more necessary a will becomes to coordinate things.

But if it is a simple estate, with one asset, probate is still overkill. Much better to deal with the bank and get the proper bank papers in order.