Tag Archives: will

Probate – More public than ever!

ancestry  Ancestry.com just announced that they’ve made a new addition to their site.  When you search for someone, you will not only see facts about their life but may see a copy of their will and probate records.  Ancestry claims that “probate records often document family relationships over multiple generations. Wills can also give insights into your ancestor’s lifestyle and personality: J.P. Morgan left large bequests to his librarians; Louisa May Alcott asked that her papers be burned.”

Do you want everyone to see the details of your estate?  If not, you should think about meeting with an attorney and preparing a trust.  That way, everything will be confidential.

For more information about wills, trusts, probate and estate planning, go to www.diesmart.com.

Why you need a living will & healthcare power of attorney

terri schiavo

Most people don’t like to think about what will happen if they’re in an accident or come down with a catastrophic illness.  They don’t decide who they want to speak for them if they are unable to communicate their wishes themselves.  They don’t tell anyone what kind of care they want….or don’t want.  Once they are hurt or incapacitated, it may be too late.

These are three reasons why you need a living will and a healthcare power of attorney:

1) You name the person you want to speak for you when you can’t.  It should be someone  you trust to make decisions on your behalf and to carry out your wishes.

2) You decide whether you want heroic measures performed to prolong your life if there’s no chance of recovery.

3) You outline the type of treatment you want to receive.

If you don’t have these documents, a relative you don’t know very well and don’t trust or possibly the courts will speak for you and decide what will happen.

For example, they may decide to put you on life support and prolong your life even though there is no chance of recovery and you may not have wanted heroic measures.  They may choose to perform a surgical procedure that you don’t want or they may decide to do something that is against your religious beliefs.

A living will enables you to describe the kind of care you want.

A healthcare power of attorney (It may be called something else in your state or it may be combined with a living will) allows you to name the person you want to be your healthcare agent who can speak for you when you can’t.

Unfortunately, a life threatening accident or a catastrophic illness can occur at any time.  There’s no age that is exempt.  Think of Terri Schiavo.  She was a 26 year-old that had a tragic fall, went into a coma and remained alive, hooked up to a feeding tube, in a vegetative state for more than 15 years because her husband and her parents couldn’t agree on her treatment and she hadn’t legally stated her wishes.

Don’t let others decide for you.  If you don’t have a living will and a healthcare power of attorney, get them drawn up right away so your wishes will be carried out and you will be able to speak for yourself….even when you really can’t.

For more information on this important subject, go to www.diesmart.com.

Don’t bury your head in the sand!

So you donbury head in the sand’t think you need a will?

Don’t bury your head in the sand like more than half of all Americans.  That’s the percentage of people who don’t have a will…and probably don’t think they need one.

Maybe you think you don’t have enough assets to make it worthwhile.  Perhaps you think your spouse will automatically get everything.  Or you know your children will do what’s right so you don’t have to worry about it.

Do you know who actually decides who gets what when you die if you don’t have a will?  It’s the government!  Yes, every state has laws that determine who will inherit your things if you die intestate (without a will).  Your spouse and children will have no choice and will not be part of the process.  In some states, it’s simple.  Your spouse gets everything.  In others, your spouse splits the estate with your children.  If you aren’t married or don’t have children, your parents or siblings may be the ones who get it all.  You may not want your siblings to get anything or, perhaps, you don’t want your parents to inherit.  Maybe you’d prefer that the bulk of your estate goes to charity.  Whatever your wishes, without a will, they won’t be carried out.

It’s very easy to draw up a simple will.  There are many templates on the web or forms you can fill out for less than $100.  If you have a complex estate and need to sit down with an attorney, it will cost more.  However, for less than $100, you have no excuse.

Get a will drawn up today.  Don’t let the government make the decision for you.  You decide who inherits what when you die.

For more information about wills, go to diesmart.com.

Bobbi Kristina had no will – what happens now?

Whitney Houston and Bobby Brown’s daughter, Bobbi Kristina, died on Sunday, 7/26/2015.  She was only 22 years old and probably had no plans to die so young.  She had done nothing to prepare for death and had no will.

When Whitney Houston died in 2012, she left her entire estate to her daughter.  That estate was worth more than $20 million.  Because of her grandmother’s fear that Bobbi wouldn’t be able to handle so much money at such a young age, she challenged the will and a court ruled that the money could be given to Bobbi in increments.  Although the bulk of her inheritance was not supposed to be given to her until her 30th birthday,  she had received approximately $2 million when she turned 21.

Her father is her next of kin and so, according to the law, will inherit the money she had already received.  However, since he was divorced from her mother, I’m sure Whitney Houston would not have wanted any of her money to go to him.  The balance will probably go to Whitney’s mother, Cissy, who is 81 and her two brothers, Michael 53 and Gary 57 since they are Whitney’s closest living relatives.

Because of the number of people who would like to receive some of these millions, this case will probably go through a long court process before anything is definitively settled.

Is this what Bobbi Kristina would have wanted?  We’ll never know.

Have you written a will, designating what you want to happen to your estate when you die?  Do you want the law to make the decision for you?  You could die suddenly at age 22 from what may or may not be an accident like Bobbi Kristina or at 90 or 95 from a  heart attack or lingering illness.  If the answer to either of these questions is no, you should draft a will immediately and name those people who you want to receive your assets as well as things meaningful to family members like your mother’s jewelry and your dad’s artwork.

You can find a form for a simple will on the web or, for a more sizeable estate, can meet with an attorney to have one drafted soon.  Otherwise, in addition to the law deciding for you, it will make things harder for your surviving heirs.

For more information, go to www.diesmart.com.