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    rhouse30's Avatar
    rhouse30 Posts: 306, Reputation: 1
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    #1

    Jun 10, 2010, 04:46 AM
    Making out a will
    Can I just fill out the information for will papers that I downloaded for a simple will and then have it notarized?

    If I can, can you tell me the pros and cons of doing it that way?

    Any tips will be greatly appreciated.

    Thanks in advance.
    tickle's Avatar
    tickle Posts: 23,801, Reputation: 2674
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    #2

    Jun 10, 2010, 04:52 AM

    Yes you can write your will from a download, or you can purchase the form from a stationery store, have it notarized by your attorney, or a notary public, as long as your signature is witnessed. As long as your worldly goods are simple and straight forward to leave to one of your choice, there are no pros and cons and perfectly legal.

    Be sure to name your exector/execturix in your will so there will be no doubt who will handle the transactions of your last will and testament.

    Tick
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Jun 10, 2010, 05:10 AM

    The key to a will is the complexity of your estate. If you have a lot of assets , then a will needs to properly deal with them. If your estate is simple and you are leaving it primarily to one or two people, then a D-I-Y is fine.

    The will should be witnessed by 2 people and all three signatures should be notarized. A copy of the will should be left with a trusted person.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #4

    Jun 10, 2010, 07:23 AM
    Quote Originally Posted by rhouse30 View Post
    Can I just fill out the information for will papers that I downloaded for a simple will and then have it notarized?

    If I can, can you tell me the pros and cons of doing it that way?

    Any tips will be greatly appreciated.

    Thanks in advance.
    Yes you can.

    Pros: save a few bucks.

    Cons: larger chance of making a very big mistake.
    tickle's Avatar
    tickle Posts: 23,801, Reputation: 2674
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    #5

    Jun 10, 2010, 09:17 AM

    Complicated will situations are over-rated. I am not saying this is the case here, but as I was an only child, my mom made her will, named the executrix (who was a long time childhood friend) and told me where it was. As it turned out, and I already had POA, mom passed away, I already knew what the content of the will was because I already had invested mom's money in both our names as she wished, I didn't need the will and the executrix didn't need to get involved. No money, except the POA, passed hands to initiate this.

    May not work for everyone, but it is going to work for me and son the same way.

    Tick
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #6

    Jun 10, 2010, 09:28 AM
    Quote Originally Posted by tickle View Post
    ...
    May not work for everyone, but it is gonna work for me and son the same way.
    That's the problem. No problem one time so people fall into the trap of believing they will dodge the bullet too.

    It's like not buying insurance: betting that you won't get in an accident, get sick, or whatever.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #7

    Jun 10, 2010, 09:31 AM
    Quote Originally Posted by tickle View Post
    I already had invested mom's money in both our names as she wished,
    That is certainly one way to avoid probate, by making all assets joint. There may be some tax implications to this.
    tickle's Avatar
    tickle Posts: 23,801, Reputation: 2674
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    #8

    Jun 10, 2010, 09:33 AM
    Quote Originally Posted by ScottGem View Post
    That is certainly one way to avoid probate, by making all assets joint. There may be some tax implications to this.
    Yes, you are probably right for someone else doing the same but in my case it didn't matter and that was five years in Ontario. In fact the money had already been invested in a house as a down payment. My mom lived with me for many years before she passed away, in the same house. She was well provided for in every way.

    Tick

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