I want all the manuscripts, published and unpublished!
Huh. OK, well, admittedly my Estate Law class dealt specifically with [url=http://folio.legis.state.wi.us/cgi-bin/om_isapi.dll?clientID=1005163825&advquery=probate&headingswithhits=on&infobase=stats.nfo&record={74D3}&recordswithhits=on&zz=]Wisconsin law
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and there is no requirement that the testator direct that debts or funeral expenses be paid. The estate is not liable for funeral expenses and it is up to the creditors to make claims against the estate.
Again under Wisconsin law, this is not a requirement. It’s a good idea to include a statement specifically disinheriting someone who would otherwise have a claim on the estate, as it help shield the estate from the contention of “oh, she meant to leave me an equal share of the estate but she just forgot to mention it in the will.” The reason one is disinheriting is not required.
Crap. Why can’t this board be set up to read the tags I meant to use instead of the ones I actually used?
“Michaal is a big, butch gay guy, weighing in at about 200 lbs. Think you can take him?”
Only one way to find out…and have a helluva lot of fun trying.
and there is no requirement that the testator direct that debts or funeral expenses be paid. The estate is not liable for funeral expenses and it is up to the creditors to make claims against the estate.
Again under Wisconsin law, this is not a requirement. It’s a good idea to include a statement specifically disinheriting someone who would otherwise have a claim on the estate, as it help shield the estate from the contention of “oh, she meant to leave me an equal share of the estate but she just forgot to mention it in the will.” The reason one is disinheriting is not required. **
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Good points, and excellent reasons for consulting with a lawyer on your own state’s requirements.
My intent was to write something that would provide a guide across the board, not merely complying with one state’s laws. While the two examples you gave of Wisconsin non-requirements are of course completely valid, including them, particularly the “disinheritance” one, will not void a will and can prove valuable. E.g., suppose you enter into a “domestic partnership” with a gay man who is a Schlitz heir – his will needs to document why he leaves you the bulk of his estate to have a chance of standing up in court.
My guideline was, I had rather do the unnecessary than fail to do the necessary and create problems as a result.
Wild. Out of all the legal threads I’ve seen here on the SDMB, this one is not only the best (by far) from an accuracy standpoint, it’s also the worst from a coding standpoint.
–Cliffy
I am an estate planning and tax solicitor (in Australia, although much of what I write is universal), so Wills are really my bread and butter.
I am impressed that you are going in to your meeting as prepared as you can be - if people thought about what they wanted in terms of estate/succession planning, they will find they get their solution quicker and at a lower cost.
That said, there is not real need for you to prepare a draft will yourself. The lawyer will have a precedent which he or she will amend to your specific circumstances.
It is probably best to put your wishes in a letter to your lawyer - things like executors (and alternate executors) specific gift beneficiaries (and alternates) residuary beneficiaries (and alternates) any funeral instructions (burial/cremation) etc.
I am not sure how well your lawyer knows your specific circumstances, so if he/she isn’t too aware, it is often a good idea to list your major assets and how they are held (ie. if you have a partner, jointly held assets will be considered differently to assets held as tenants in common). Assets such as property, shares, superannuation and bank accounts may all be treated differently and need to be addressed specifically. If you control a discretionary trust or other structure, this will also need to be addressed.
I am amazed at how many of my clients, particularly those of high net worth aren’t aware that if their assets are held in a trust or company structure, those specific assets will not devolve via will, rather it is the control of the holding structure that needs to be addressed.
Additionally, in Queensland (my jurisdiction) marriage and divorce can nullify a will (or at least parts of it).
Wills are things that not everyone wants to think about, but are a document that everyone needs to consider, as they are the cornerstone of a decent succession plan. They can be as simple as one page, or can run into the hundreds of pages when necessary, but people really need to consider what they want and let their lawyer know this. Will kits that you can do yourself may seem simple, but I have been involved in a lot of estate litigation where mistakes where made, and the only winners in those situations have been the lawyers.
Additionally, you should also consider an enduring power of attorney (or whatever the document is called in your jurisdiction) at the same time you do/review a will.
-Bubba