Mark Reckman - Online Wills
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Mark Reckman - Online Wills
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About this listen
AARP writes on this subject all the time. But they make it clear that online
Wills are only for the most basic circumstances.
So, if you have a small estate and want to leave everything to your spouse
and then to your kids, an online Will works – IF you fill it out and execute it
correctly.
But, what kinds of issues make online Wills risky?
A. Minor children
B. Second marriages
C. Medium size estates and larger
D. Disability – of the testator or the beneficiary
E. Real estate in more than one state
F. Children with “issues” such as poor money skills, bad spouses,
poor judgment, drug and alcohol abuse, big debt, bad health
G. Significant “non-probate” assets
H. Planning for one’s own disability
I. “Legacy” assets, including family cottage
J. Family business.
Beneficiary Designations.
Executing a Will is only one part of an estate plan. You also need to
consider:
A. Power of Attorney
B. Living Will
C. Power of Attorney for Health Care
D. Beneficiary designations.
I have never met a client who didn’t believe his/her estate was simple
– most were mistaken.
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