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Will Template?

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  • Will Template?

    Something that was on my to-do list but always put on back burner was to make a Will to ensure my kids are the beneficiary of any insurance monies paid should I happen to pass on. Where there is no hassle and its straight forward that monies go into accounts or trusts made out in their names, etc.
    Would anyone have examples or direction on a Legal Will?
    What is the process? Do I need a lawyer or is a Notary required? Commissioner of Oaths? Thanks in Advance

  • #2
    We saw a lawyer to do ours. They do a whole slate of stuff including a living will and health care directions. It cost us $800 for two so it won't be that expensive. I've heard from a few people that doing the at home kit is open to litigation and since your child's mother/father is their legal guardian in the event of your death, it's better to have an executor/sponsor who can manage your funds properly. Plus you have to have a clause in it that your support obligations must be met should you have them in place when you die.


    • #3
      My son went through this a couple years ago. You need to name an administrator to set up a trust for the children. Never mention your life insurance in your will. If you do it becomes subject to estate taxes.


      • #4
        Never mention your life insurance in your will.​
        The answer to almost every legal question is 'it depends'. As such, statements like 'never' do X or 'always' do Y are silly. While it's true that mentioning the life insurance can carry tax consequences, there might be circumstances where there are other benefits to its inclusion. As always, talk to a lawyer.


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