Financial House in order--wills?
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Financial House in order--wills?
| Fri, 02-03-2006 - 6:16pm |
Hi, everyone. Sorry I am posting a lot, but the recent posts got me to thinking. How many of you have a living will or durable power of attorney for healthcare AND finance? It doesnt matter your age, income, etc. This is important. Why? l)Co-worker who has young kids and partially disabled DH just returned to work after lengthy absence. 2) Former boss now has cancer (young kids, etc.) Yes, I know money is still a taboo subject, but my stuff is out there in cyberspace for all to see and learn from (including ME!). DH and I got a will after we got married. That's right. Many years ago. Living will? I should know better. Do I know where this stuff is? No. But hey, do you want stuff to go to estate taxes, or auctioned off? AFter my dad died, I made SURE my mother got a living will, etc. That is one thing I am going to do this year. To me, that is the most important piece of info. Whiz.

Hello,
My husband and I have had living wills drawn up, but haven't signed them yet. I have brought them to work (he works at the same place as a temp now) and I know there are notaries at my workplace, I just don't seem to get around to doing the signing. Anyway, this should be taken care of next week when I'll book some time specifically to get these documents signed. There's no question of where our limited assets and income will go. It's just getting the paperwork signed that's my DH is procrastinating on.
Sincerely,
Lindsey Schocke
Sincerely,
Lindsey Schocke
Geeks on Tap: Mission Accomplished
Whiz - you bring up an important topic.
I wanted to share this link from caringinfo.org.
All my best,
Danni
Whoops - one more link!
All my best,
Danni
Good idea, Whiz! I've got to get on the ball about this. I just found my husband's last report from his last physical (2003). He had filed it away, and I had never seen it before last week. It says his triglycerides, back then, were 272....and normal is under 150. He's got high blood pressure, doesn't eat right, drinks, and smokes a pack a day. He's thin, and you'd never think he's an unhealthy person because from the outside, he doesn't appear to be. He keeps active with friends and family and work, and he just looks like a normal healthy guy. But the way he's treating his body, I worry about him and I worry about us should something happen to him. We definitely have to get our wills in order. We have had the "Willmaker" program since we upgraded to the new Quicken 2006 program last Fall, but we have never even run it once.
Thanks for the reminder!
Pat :-D
Timely post. I had talked to my mom about this late last year and we had said we'd work together to get all this sort of documentation together. I talked to them yesterday and we are going to first figure out if their estate is complicated enough to justify a lawyer for their will, etc. or not. I want to search the net and see if there are some guidelines out there somewhere. I'm fairly sure mine is simple enough for a do-it-yourself will but if they need a lawyer we might just have him/her do it all for us. We'll see.
Peg
All my best,
Danni
This is such a great thread....May I add some comments?
I have all the mentioned documents, and I highly recommend them for everyone, no matter your age, income, etc. My husband is in the military, and I've had to use the financial power of attorney on numerous occasions.
- I know most of us can't afford the $1000 + it takes to get a lawyer to draw up these documents, but you don't have to. Most states have "statutory" wills and health care directives (and maybe financial power of attorney, too) that you can copy right off the internet. Your state's attorney general's office can direct you.
- Another great source is www.uslegalforms.com. They have everything for a very reasonable price.
- There are lots of legal software systems out there, although I don't know one to recommend. I did buy Suzy Orman's system once.
- Military folks can get legal documents through the legal office on base. (Not sure if that applies to anyone here:)
- Danni is right on the money about the safe deposit box. A trusted friend, family member, or lawyer should have a copy of the documents (your doctor should have a copy of your health care directive/living will), or at least a letter stating where the documents can be found. A close friend has copies of my documents in a sealed envelope. My sister knows where the originals are in my house.
- Most people still believe that an "estate" means a ton of money, but that's not true in most states. Estate limits are quite low (as far as probate--the court--is concerned), so you really should have your wishes on paper to avoid a court making the decisions for you.
Sorry so long! I just wanted to pass on some info. Hope it helps! Good luck to everyone.