I can’t afford a will—lawyers are too expensive. Drafting a simple will is one of the least expensive of all legal services, and the cost of not having an attorney plan the disposition of assets accumulated over a lifetime can be significant.
I don’t need a will. My spouse and I own everything in joint names and it will all pass automatically to the survivor. What would happen if both you and your spouse died within a short time of each other and neither had made a will? Each joint owner should have a will that avoids having assets distributed according to state laws.
I don’t need a will. I have a revocable living trust. You need a will to provide that assets not transferred during life can “pour over” into your living trust at death. A will also lets you name an executor and guardian for minor family members or for those with special needs.
Copyright © by SHARPE newkirk. All rights reserved.