Do you have a will? Any advice on writing one cheaply?

[Prairie~Phlox]

Yes, we do not have our ducks in a row, but as dh & I may be flying in January & leaving our teens home, I feel we should get on it. We own our house & vehicles & have no debt, but don't have a lot of extra either, so it needs to be done cheaply. Our children are ~20, 18 & 161/2, what do we do as far as guardiansship for our 16 1/2 year old? Does a will state that kind of stuff? I'm clueless. Do dh & I each need a will?

[Tap]

There is will writing software that can walk you through all the steps.

 

If your employer offers free legal services, will writing is sometimes a service they offer. It sounds like an odd benefit, but I think every one of dh's and my major employers have offered a few hours of free legal services as a benefit. 

[Bootsie]

Yes, you each need your own will.  Unless either of you has children outside of this marriage or individual assets, the two wills will probably be very similar, with the same content and simply the names changed.

 

A will would generally state who you would like to have guardianship of a minor child.  

 

Depending one what you are doing regarding children's education beyond high school, your needs at this stage in life might be to set up for educational funding for the younger or youngest child.  Also, you want to make sure that whatever you do is consistent with your state's inheritance laws.  My father died in Louisiana (which has inheritance laws that differ from the rest of the states), but settling his estate was actually easier than if he had had a will.  

[Prairie~Phlox]

So in my state it says 1/2 estate to surviving spouse & 1/2 to children, so even though both names are on the house, children would still get half? This alone should get dh to get a will planned out.

[Lanny]

OP wonderful that you are going to do this. I laughed when I read that you and your DH may be flying and that is what created your interest in this vital subject. Do you ride in a car together? If so, that is FAR more dangerous than flying in a Civil Turbojet aircraft.

 

You need to write down all of the things you want to include in a Will. You need Contingent Beneficiaries, in case one of the Beneficiaries dies, before you do, etc.  YOU MUST NOT HAVE ANYTHING AMBIGUOUS IN THE WILLS.

 

Do this, whether or not you plan to go with your DH in a Civil Turbojet Aircraft.  Much more important that you could imagine.

 

If you do not have a Will, your state has written one for you and it might not distribute your assets as you would have wanted, had you taken the time to write a Will before you passed away.

 

With regard to Guardianship for your youngest, that probably would be taken care of in a separate document.

 

You need an appointment with an Attorney who specializes in Family Law, after you have all of your questions and concerns written down.