#WillforMom #EstatePlanning #LegalAdvice #FamilyFirst
🌟 Creating a will for your mom is a thoughtful and important decision to ensure her wishes are honored and her assets are distributed according to her wishes. Let’s dive into the process of crafting a simple will for your mom with ease and peace of mind!
Understanding the Basics:
1. **Start by Discussing with Your Mom**: Communication is key in this process. Sit down with your mom to understand her wishes and preferences for her assets and belongings.
2. **Gather Essential Information**: Collect all necessary information such as her personal details, assets, debts, and beneficiaries.
Drafting the Will:
Option 1: Online Will Templates
– Utilize online platforms like LegalZoom or Rocket Lawyer to create a basic will template tailored to your mom’s needs.
– These templates are user-friendly and cost-effective options for creating a will.
Option 2: Consult a Professional
– Seek guidance from an estate planning attorney to ensure legal compliance and accuracy in drafting the will.
– An attorney can help customize the will to address specific needs and concerns.
Signing and Protecting the Will:
– Ensure the will is signed in the presence of witnesses as per state laws to make it legally valid.
– Store the will in a safe and accessible location, such as a secure safe deposit box or with a trusted individual.
In conclusion, creating a simple will for your mom can bring peace of mind and clarity for her future. Whether you opt for online templates or professional assistance, the goal remains the same: honoring your mom’s wishes and securing her legacy. Remember, it’s never too early to start planning for the future! 💕 #FamilyFirst #LegacyPlanning #ProtectYourLovedOnes
She should add you to her bank accounts as a co owner.
I used [Rocket Lawyer](https://www.rocketlawyer.com). They even have a free 7 day trial.
She probably doesn’t need a will. If she has financial accounts, she can add you as beneficiary. If she owns property, she can register a “transfer upon death title” with the tax assessor. I believe she can do the same with her vehicles. Since there is no one else who will inherit from her, you get the contents of her home automatically.
It would be wise to see an Attorney who deals with Wills and Trusts
Maybe just a one time meeting
Simple will was $300 for my hubs and me. Worth the money to know we’re taken care of.
If there are any deeded or titled properties or assets, I would not skip a will. My will and POA docs cost $400 from a local lawyer.
Maybe see if an estate planning attorney can give you a free consultation to provide some insight into your state’s probate and estate processes and tax implications. You may even be able to self-file a simple estate upon her passing if her assets are minimal.
Kudos to you both for getting things together.
I have no experience with it but have heard https://www.mamabearlegalforms.com/ is good
You can also look at a Revocable Trust. They are typically more expensive to set up than a Will but I used a paralegal service for mine and it was only $425. Mine is simple with basic assets including my house and my son is my sole beneficiary. A trust will let you skip probate.
Some states have a minimum for Probate. if Mom’s estate is not too much you might not even need a will, although I suggest a will.
There will be other rules and conditions also such as real estate, etc
When my father died he had diddly, no will, I was joint on his checking account. His estate did not have to go through probate at all.
I flew out to his State, walked into the bank with a Death Certificate and closed the account. Even though I did not need the Death Certificate since I was joint.
I gave that cash to my sister. I paid for my sister’s bankruptcy lawyer. Told my sister to never talk to me again.
Depending on your state. Examples
nevada is $20,000
Mississippi $50,000
New Mexico $50,000
New York $50,000
Florida is $75,000
california is $184,500
I used Nolo’s Willmaker software and got it notarized at my local library with two friends at witnesses. Be sure she has a will and sets you up as beneficiary on everything she can, becaus going through probate is difficult, especially when you’re grieving. Either way you are the sole inheritor of everything, but in order of easiness it will be: beneficiary, willed, non willed assets.
Bank accounts could also be set up as POD, with you as the beneficiary.
Willful is a good site, you can do everything online.
I would contact a Funeral Home and she can make all final arrangements, and pay for them. The benefit in this is you pay today’s prices but the service is guaranteed when required. My wife and I did this a couple of years ago and now carry cards in our wallets that put the wheels in motion with one call. May not be a concern for your Mom, but we included a provision for repatriation should either of us pass while travelling abroad.
If she owns a home, get a Transfer on Death deed to avoid a whole lot of hassle [https://www.legalzoom.com/articles/understanding-the-transfer-on-death-deed](https://www.legalzoom.com/articles/understanding-the-transfer-on-death-deed) They aren’t legal everywhere yet, but if it is in your area, it is such a help.
Does she own a home or does she rent? If she owns, and you’re in the US, I strongly suggest a trust. In some states a TOD (transfer on death) deed is an ok substitute, but a trust is usually better.
Set up a “pay on death” with bank accounts and anything financial that you can do that on. You take the death certificate and they will transfer money wherever you want. If her will does not include any other people (in which case whatever money she DOESN’T want to go to you won’t have a pay on death. Any property/possessions she wants to go to someone else will not be touched until probate), that will help you financially while taking care of everything else. Probate can take a few weeks or a few months and a couple times I’ve seen it take a year.
If you are getting everything, be added to her house/mortgage, credit cards, utilities, etc as a co-owner or authorized user. It makes it MUCH easier if your name is already on the accounts.
Has she pre-paid for a funeral or cremation? if not, do that now so it’s out of the way and you don’t have to deal with the details while grieving. Plus, SHE gets to choose what kind of service/funeral she wants and you don’t have to decide anything.
Medical power of attorney. Financial power of attorney. If she is unable to make decisions for herself at some point, this will allow you to make medical decisions plus pay the hospital or whatever while she is unable to do so.
I have no relevant experience like this before, but I hope you can do it carefully and greatly.