Monday, January 30, 2012

Making a will

With all the things in my life that are changing (and going to be changing) I thought it would be a good idea to update my will.  Especially since my old will still lists my ex-husband as primary beneficiary... Ack!

Since my estate, such that it is, is very simple I went online to Rocket Lawyer for a do-it-myself will.  I looked at a bunch of sites but Rocket Lawyer gives you the first document for free so I went with it.

Fifteen minutes later I had my new will ready to go.  Yes Donna, all my stuff is yours (but you knew that already).  Now I just need to get a couple witnesses to sign it and I'm good to go.

In addition to making a new will, I also followed the advice of my financial adviser by specifying that all my bank accounts are "payable on death" to Donna.  If I understand things right, this means that immediately upon my death any money in those accounts will be distributed directly to her.

If you haven't taken care of this type of stuff it's probably a good idea to get it done sooner rather than later.  No one knows when their time on this planet will be up so it's better to cover all your bases. 

Of course if you have more complex lives than I do you'll probably want to have an attorney help you figure out the best route to go and draw up the proper papers.  The peace of mind that comes with knowing your family will be taken care of when you're gone is definitely worth it in my book.

Plus it's good to make sure you haven't forgotten to remove those exes like I did!

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