Tuesday, January 4, 2011

You've Resolved to Get a Will This Year. That's Great! How to Know the Right Will for You.

You've Resolved to Get a Will This Year. That's Great! How Do You Know the Right Will for You? What do You do Next?

You've made a wonderful New Year's resolution to finally get your Will done this year. It may surprise you to know just how many people each year make the same resolution. In this article, I will cover the information you need to know to get started on this resolution and bring it to completion.

So where do you begin? Well that's actually an easy question to answer. It's the same answer to the question of knowing which Will is right for you. There is no such thing as a Will "out there" that is right for you and your family.

You see, there are dozens of different kinds of Wills. Let's review just several to demonstrate what I mean. There are Wills for:

1. Single people.
2. Single people with minor children.
3. Single people with grown children.
4. Single people with grown children and grandchildren.
5. Single people with dependents not their children.
6. Married couples with the same combinations as listed above for single people.
7. Unmarried couples with all the same combinations.
8. Domestic partners with all the same combinations as above.
9. Same sex partners with the same combinations.
10. Wills for situations that are too numerous to mention.

In other words, every person's Will is (and has to be) different than every other person's Will. This is because everyone is different! This is why internet and fill-in-the-blank documents don't work and are so dangerous. It is impossible to properly tailor those documents so they can work just for you.

If all this is true, then how do you start on this resolution? That's easy. You make an appointment with an estate planning attorney for an initial estate planning assessment. By having this meeting, you will learn what type of Will fits your situation.

You will end up with recommendations of how to proceed with your estate planning. I have written prior articles about how to find such an attorney and the qualifications you should insist on from that person. Please refer to those articles elsewhere here for reference.

The last point I want to emphasize is that your Will is just part of this resolution. I have written prior articles on the proper components of an estate plan. Your Will is just one of several necessary components. You want to make sure that you add Durable Powers of Attorney and a Living Will. Refer to the prior articles here if you want more details on these components or just give me a call.

Congratulations on your resolution and I hope this article helps you bring it to a pleasant conclusion. Completing your Will and other basic documents represents one of the best gifts you can give your family and yourself for the new year.

If you have questions about this article or your estate planning, feel free to give me a call or send me an email or message.

Bernie Greenberg

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