6: Make Wills (and Living Wills and Medical Powers of Attorney) for all adults/asset-holders in family

To deal with child guardianship and distribution of assets

Steps

Name/IDWhy/Desc/Context
Decide on process and resources (7) People, books, forms, software, etc.
Make guardianship/trustee decisions (8) For children
Make asset dispersal decisions (9) Under various scenarios of 1+ adults dying
Make LivingWill decision (10) DoNotResuscitate orders, etc.
Execute: finish documents and sign (11) Note local rules about witnesses, notarizing, etc.

Public Notes/Forum

MemberNotePosted
BillSeitz

Really you should have these 4 documents for each adult:

  1. Will: for guardianship of dependents and how to handle your assets after death.

  2. Living Will/Advance Health Care Directive - the place to write out what you do and do not want in terms of medical care if you are unable to speak for yourself http://www.nolo.com/legal-encyclopedia/living-will-power-attorney-medical-issues-29536.html

  3. Health Care Power Of Attorney/Health Care Proxy - gives another person authority to make medical decisions for you if you are unable to speak for yourself. http://www.nolo.com/legal-encyclopedia/choosing-health-care-agent-29939.html

  4. Durable Power Of Attorney For Finance - arrange for someone to manage your finances if you become incapacitated (unable to make decisions for yourself). http://www.nolo.com/legal-encyclopedia/durable-financial-power-of-attorney-29936.html

Somewhat less crucial:

  1. Revocable Living Trust - Most people use a living trust to avoid probate. http://www.nolo.com/legal-encyclopedia/revocable-living-trusts.html

While #1 can easily get messy enough than software makes sense for generating it, #2-4 can generally be handled pretty well by the "standard forms" approach.

2012-10-13 16:03:37.829934
BillSeitz

Really, you should get: wills; durable power of attorney for healthcare; financial power of attorney.

2012-10-08 21:41:12.000071

Resources

TypeNameDescriptionPrice
Article BabyZone
Choosing a Guardian, Trustee, and Executor
$0
Book Chilton, David
Wealthy Barber Chapter 5
$9
Lawyer Directory Martindale
Advanced Search for Lawyers, Law Firms & Organizations
$0
Lawyer Directory Nolo
Find Estate Planning Law Firms, Lawyers and Attorneys
$0
Software Avanquest
WillCreator Deluxe
No Mac version $30
Software Nolo
Nolo Quicken WillMaker Plus
No Mac version! $43
Standard forms FindLegalForms.com
Wills
Variety of options, at varying prices. $0
Standard forms ILRG
ILRG Legal Forms Archive
$0
Standard forms Standard Legal
Complete Family Wills
$23
WebApp LawDepot
LawDepot Last Will
$1
WebApp LegacyWriter
LegacyWriter
$70
WebApp LegalZoom
LegalZoom Will
Other documents have other process/pricing. $69
WebApp Nolo
Online Will
$35
WebApp Orman, Suze
Must-Have Documents
$30
WebApp PrepareCase
PrepareCase
$54
WebApp RocketLawyer
Complete Will
$0
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