Filling Out a Will Information Worksheet
In this video, experienced Rochester estate planning attorney Robert Friedman outlines filling out a Will Information Worksheet.
- Have you completed the Will Information Worksheet that we sent you?
- Yes, here it is
- How many children do you have?
- Four, but I don’t want to leave anything to my son, Joe, because I haven’t seen him in 20 years. Can he contest the will if I leave him nothing?
- No, as long as the will is properly executed and you have testamentary capacity.
- What is “testamentary capacity”?
- Testamentary capacity means that you understand what a will does, heirs, and property owned.
- What does it mean that the “will must be properly executed?
- This means it is signed before two witnesses whom we provide. There is a presumption if proper execution if an attorney is present.
- Who do you want as a trustee and guardian appointed for your 12 year old daughter Jane?
- Why does Jane need a guardian and trustee?
- If you and your husband die, she needs a legal guardian until she turns 18. We recommend that a trustee be appointed until the ages of 22-25.
- Do you want us to hold your original will in safekeeping?
- What are my options for safekeeping and what do most of your clients do?
- Most with clients allow us to safekeep their will. Other options include surrogate safekeeping or storing it somewhere at home.
- Who are the beneficiaries and contingent beneficiaries in your life insurance policy?
- My husband and I have no contingent beneficiaries. Can I change beneficiaries in my will?
- We recommend you contact your insurance company. If no beneficiaries, life insurance will be payable to estate, instead of directly to beneficiary. This is an example of a non-probate asset.
- I own our lake cottage jointly with my brothers. What happens to the cottage when I die?
- Probate if TIC. Nonprobate if JTWRS, life estate deed or living trust
- Does my Will have to go through probate when I die?
- Probate- assets/ process
- Do you want your husband as executor and one of your children as executor?
- Yes- my husband. Can I name Jim in Seattle and Mary in Buffalo as alternate co-executors?
- Yes you can- but inconvenient with Jim being on the West cost.
- What does an executor do?
- Debts, Assets,
- Can I name you as my alternate executor?
- Yes- attys can and often serve as executor
- Does my estate have to pay taxes when I die?
- NO ET, but IT
- Do you and your husband have a poa?
- Why do I need a poa?
- Incapacity- financial
- Do you and your husband have health care proxies and living wills?
- I’m in great health . Aren’t I too young to need a health care proxy and living will?
- All ages. Famous cases women in 20’s/30’s Schiavo & Quinlan.
- Do I need a second appointment to finalize my Will?
- Yes- drafts in a few weeks and call us with corrections and ????
Contact our experienced Rochester estate planning attorneys for any questions or further guidance. Let our experience work for you.