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Write Your Legal Will USA

Write Your Legal Will USA

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Published by Richard Day
This book with its accompanying forms has helped thousands of Americans prepare their own wills without the cost of a lawyer.
This book with its accompanying forms has helped thousands of Americans prepare their own wills without the cost of a lawyer.

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Published by: Richard Day on Jul 04, 2009
Copyright:Attribution Non-commercial

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11/05/2013

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Robert C. Waters, Attorney
Self-Counsel Press Inc.
(a subsidiary of)
International Self-Counsel Press Ltd.
Write Your Legal Will in 3 Easy Steps 
 
INTRODUCTIONVIISTEP 1: WILLS AND ESTATE PLANNING: AN INTRODUCTION
1
1THE IMPORTANCE OF ESTATE PLANNING
31.Do You Need a Will? 32.What Is Estate Planning? 42.1Updating your will 52.2Avoiding delays in settling your estate 52.3Providing for loved ones 62.4Providing for yourself 72.5Getting advice from professionals 8
2GETTING STARTED: THE FIRST STEPS TOWARDSUCCESSFULESTATE PLANNING
91.The Basics of Estate Planning 91.1 Understanding what you own and how you own it 91.2Deciding who gets your property 101.3Setting goals for your estate 101.4Implementing your goals 111.5Reviewing your plans regularly 112.Understanding the Language of Wills and Estate Planning 122.1What is a will? 122.2Who are the players? 132.3Estates and their administration 132.4Types of property 16
3UNDERSTANDING ESTATE ADMINISTRATION AND PROPERTY
171.Probate and Nonprobate Property 171.1Advantages and disadvantages of the two forms of property 181.2Keeping track of probate and nonprobate property 202.The Special Considerations of Jointly Owned Property 212.1Tenants in common 212.2Joint ownership with right of survivorship 222.3Tenants by the entirety 23
iii
Contents
 
2.4Life estate 242.5Joint bank accounts 242.6Community property 253.Jointly Owned Property and Estate Planning 25
4TRUSTS AND GIFTS AS ESTATE-PLANNING TOOLS
271.Trusts 272.Gifts 30
5YOUR WILL: AFAMILY AFFAIR
331.Providing for Your Spouse 331.1Minimum inheritance331.2The consequences of divorce 341.3Planning together 342.Providing for Your Companion or Life Partner 352.1State your intentions 352.2Common-law marriage 363.Providing for Minor Children 373.1Nominating a guardian 373.2Financial considerations 383.3Property 384.Providing for Grown Children 395.Family Farms and Businesses 406.Providing for Your Family during Probate 40
6PREPARE YOUR INVENTORY
43
STEP 2: PREPARING YOUR OWN WILL
49
7HOW TO MAKE YOUR OWN WILL
511.The Requirements of a Sensible, Legal Will 512.Holographic Wills 523.Who May Make a Will? 524.Naming an Executor 544.1Choosing an executor 544.2Coexecutors 554.3Naming an alternate executor 564.4Defining the extent of your executor’s power 565.The Basic Clauses: The Importance of Exact Language 575.1Naming people 57
iv
Write Your Legal Will in Three Easy Steps

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