Has anyone written a will?

[Life_is_Simple]

If so, did you use a lawyer, a book, or software?

How do your IRA accounts and bank accounts enter in? Like, if you have beneficiaries on your IRA accounts already, is that enough?

What topics does one have to take into consideration?

By the way, I am fine. My friend lost a relative and suggested we all write a will.

[awakenedsoul]

I'm working on mine now. I ordered it from USlegalforms.com through Dave Ramsey's website. I don't want my house to go through probate. I also filled out transfer on death forms at my credit union. I think it's really important. I was upset when I saw how family members acted when my brother passed away. (He didn't have a will.) Some people are vultures. It's really sick.

[SteveinMN]

Yes, with a lawyer.

One reason we went with a lawyer was so we didn't have to learn Minnesota state law on survivorship, taxation, etc. The logic behind where everything goes is really a very simple flowchart/decision tree. But to do it smart, it helps to know if there are assets to distribute before the very end and to make sure the people we intend to be beneficiaries are indeed beneficiaries.

Many people (too many?) leave everything to one person and then urge them to consider the needs of others. In our view, that's not execution of a will, that's abdication. If you have someone in mind, specify. Otherwise, you lose all rights to what happens to your stuff after you've passed on. Not like we have a lot, but we want what we have to go to people who can benefit most directly from it.

The major topics to consider, IMHO, are local laws and the financial implications.

[Rosemary]

We went to a local write-your-own-will workshop that was run by a lawyer. She had forms that were easy to fill in, and she did all the necessary signatures at the end of the workshop. I think it cost us $60 for the two of us.

[Life_is_Simple]

Thanks for the responses. Last year I met a tax CPA who recommended a lawyer in the next office who did wills. So I keep that in mind as one option. In some ways it would be good to be able to ask a lot of questions. But my case is simple, so I don't know how much effort I want to put into just getting a first one completed.

It's sometimes nice to just do the fastest, easiest thing as a placeholder, which is why I would consider books or software.

Also, I like the seminar suggestion from Rosemary.

I just read that the beneficiaries you put on your retirement accounts supercede anything you would write in a will on that topic. So I went and updated the beneficiaries on my accounts.

AwakenedSoul, I will check on similar account forms at my credit union. Thanks for that tip.

[IshbelRobertson]

We took advice from our family solicitor.

[Float On]

My BIL the lawyer took care of ours for us, it's been 10 years or so really need to update them.

[razz]

When we bought any property DH and I updated our wills to reflect the changes. We had consolidated everything so when DH passed away 13 weeks ago, I had very little to do.

I updated my will with the advice of the lawyer discharging DH's estate with our two daughters present to understand what was involved and the choice of the wording to be sure that it was clear and understood by all parties.

If the will is with a legal partner, it is more straight forward, I believe, and with other family is a little more involved. Both age and dependents will create issues that need to be addressed. Wills also need to be reviewed every 5 years and updated to reflect changing circumstances and any family or inheritance laws that are modified.

[larknm]

We did ours with the help of Rainbow Law, two qualified women who help LGBT people write wills. My sister told me years ago that she didn't think gay people should be able to leave their stuff to anyone other than blood relatives.

[Mrs-M]

Yes, we have a will, prepared through a Notary Public... a FRACTION of the cost of a lawyer.

[reader99]

I had a lawyer do it. Then I typed it all into Word, and when I need to change anything I can change just that part, print it and have it witnesses again.

Something to know is that if you move to a different state your Will made in the old state may no longer be valid.

It's true that any beneficiaries or joint tenants that you have on accounts or property inherit that particular asset regardless of what your Will says. People with simple financial lives may be able to take care of everything with benefs and jt tenants.