Post # 1
We recently changed all of our accounts at work to list each other as the benefactors, and it got me thinking. Maybe we should get wills drawn up that include medical directives and such.
Just wondering if anyone has done it. What was the process like? Are you glad you did it? Did you do it before or after you got married?
Post # 3
@thenewmrsmax: We have not yet, but we plan to do wills and living wills this year. I was stuck on who to give our dog to if we both should die. Now I have an answer.
My work offers us a code to use this particular service http://estateguidance.lzpartners.com/. I went through the will already and it was pretty easy. It is good for all states. Free to fill out but $20 to print it out. Then you put it in a safe place and alert your family.
Living wills are specific for when you’re alive, but incapacitated. It also includes life support decisions (which wills do not). A will is only good for when you have passed.
If you both have your name on a house title, a living will will say what to do (otherwise it’s expensive and lenghty to remove an incapacitated person off of a house title). Plus you probably have other assests than just retirement accounts and a house.
Here is a good Suze Orman link on wills and living wills:
If you have iTunes, there is a free Suze Orman podcast for 9/28/2013 that is about trusts, wills, living wills.
Post # 4
My FI and I plan to get a trust after we are married. It makes more sense for us than a will.
But we also have advance directives/living will in place – I work in healthcare and there is nothing more heartbreaking than end-of-life decisionmaking. I would much rather have a piece of paper state my wishes than have my dear spouse have to make those gut-wrenching decisions.
Post # 5
Actually I think all wills have to go through a court procedure call probate where a judge authenticates the will. That part I have not gotten into yet!
Post # 6
We just met with a lawyer about this and gave him all our info in the space of an hour or so. The process is very easy. He draws up a standard document and then we sign it. That’s it.
Post # 7
I think it really depends on jurisdiction. When my grandmother died about 6 years ago, her holographic will (handwritten) was deemed a-okay and honoured.
Post # 8
@thenewmrsmax: We just completed a family trust. As part of the process, we did our wills, our health care directives, and power of attorney documents. We got recommendations from people and interviewed 3 attorneys before deciding on who we wanted to work with.
Definitely worth it.
Post # 9
@Bette_Noire: Interesting! I will have to look into my state/county.