Make Your Own Last Will and Testament




Last Will and Testament

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Last Will and Testament

Pub. Date: Jan 2011   Format: Paperback / e-book   Edition: 1st   Pages: 234

If you die without a will, you will have no control over how your property is distributed or who takes control of your minor children. These matters are determined by state law. Furthermore, the value of your estate could be reduced by costly legal and professional fees associated with dying without a will. This book provides you with instructions and all the necessary forms to complete your own will. It will show you how to:

  • leave money and property to your loved ones;
  • avoid intestacy;
  • appoint guardians for your children;
  • save on legal fees and probate; and
  • more.

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Overview

Before we explain how we can help you, let's take a quick look at why you need a last will & testament and what happens if you die without making a valid last will. Unfortunately, the consequences of dying intestate are all too familiar to many people:

  • No Contorl Over How Your Assets Are Distributed - your assets will be distributed in accordance with state law and your wishes will not be taken into account;

  • No Control Over Who Cares For Your Children - a court will decide who is appointed as guardian of your children;

  • No Long Term Property Management Arrangements For Your Children – you can only make these arrangements using a last will. A court will decide who manages any inheritances your children receive

  • No Control Over Who Wraps Up Your Affairs – state law will determine who is appointed as your personal representative and who will be responsible for closing your estate; and

  • Higher Legal & Professional Fees – legal and professional fees associated with the administration of an estate can be higher if you don’t make a will. These fees will be deducted from your estate and will ultimately reduce the overall value of your estate.

Making a Will is the only way for you to take control over these matters and to properly provide for the distribution of your assets to your family and friends. Fortunately, thousands of prudent people in America avoid these and other similar problems every year by simply taking the time to make a Will. These people sleep soundly in the knowledge that their estate will be distributed as they see fit and that their children will be taken care of. We are offering you a simple solution to help ensure that you join this sensible group of people!

We have taken our years of estate planning experience and knowledge and created a simple book that will guide you through the entire process of making a last will & testament. It's called "Make Your Own Last Will & Testament".

 

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  •        Overview
  •       Table of Contents
  •      Forms
  •      Requirements

Make Your Own Last Will & Testament will provide you with everything you need to make your own customized will including step-by-step instructions, detailed information and all the necessary legal forms. It doesn't matter whether you're married or single or even whether you have children or not - this book has a will suitable for everyone!

In this book, you will learn about wills, making gifts to children, executors, intestacy and probate, estate taxes, estate planning and much more. We’ll show you how to:-

  • make a valid last will & testament in a straightforward and easy way!
  • amend or revoke an existing last will & testament if you need to
  • make gifts of cash and specific property to your loved ones
  • appoint executors to wind up your estate
  • appoint guardians to care for your minor children
  • make provisions for the management of property gifted to beneficiaries who may not be able to manage their inheritance on their own
  • make funeral arrangements
  • and much more....

    With your book, you'll get a variety of fill-in-the-blank will forms that have been prepared by experienced lawyers and customized for use in a variety of different circumstances; as well detailed information, easy-to-follow instructions, helpful worksheets and all of the forms necessary to create your last will & testament. Whether you're married or have children, you'll find everything in here that you could need.

    Simply follow the step-by-step instructions in this book, and you can have your last will and testament prepared easily in a matter of minutes! No need for a lawyer or the staggering legal fees that they charge.

    Buy Now! And be one of the prudent few to avoid intestacy and provide for their family in a proper and meaningful way!

     

    Last Will and Testament  

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    Enjoy the Peace of Mind that comes with knowing that your loved ones have been provided for!

  • Chapter 1 - About Wills
    What is a Will?
    Basic Components of a Will
    Types of Wills
    Simple Wills
    Testamentary Trust Wills
    Pour-Over Wills
    Self-Proving Wills
    Holographic Wills
    Oral Wills (also called nuncupative wills)
    Joint Wills
    Mirror Wills
    Living Wills
    Dying Intestate
    The Difference Between Wills and Living Wills
    Do-it-Yourself Wills
    Do You Need a Lawyer to Make a Will?


    Chapter 2 - Making a Valid Will
    What is a Valid Will?
    Age of Majority
    Mental Capacity
    Undue Influence
    Format of a Will
    Signing of a Will
    Having a Will Witnessed
    Notarizing a Will


    Chapter 3 - Wills and Intestacy

    Why Everyone Needs a Will
    Do I Have to Make a Will?
    How Can a Will Save Me Money?
    Intestacy and What Happens if You Don’t Make a Will?
    Partial Intestacy
    Apportionment and Distribution of Assets on Intestacy
    Intestacy and Same Sex Partners
    Estate and Inheritance Taxes


    Chapter 4 - Gifts and Beneficiaries
    What is a Gift?
    Specific Item Gifts
    Cash Gifts
    What is a Beneficiary?
    Types of Beneficiaries and Hierarchy of Distribution
    Specific Gift Beneficiary
    Alternate Beneficiary
    Residuary Beneficiary
    Who May Not Be a Beneficiary?
    Gifts to Spouses
    Community Property States
    Common Law States
    Gifts to Minors
    Custodianship
    Child’s Trust
    A Family Pot Trust
    Gifts to Charities
    Gifts to Witnesses
    Failed Bequests
    Releasing Someone from a Debt
    Common Disaster and Simultaneous Death
    Disinheritance
    Disinheriting Your Spouse
    Disinheriting Your Child
    No Contest Clauses
    Challenging a Will
    Reducing Challenges to a Will


    Chapter 5 - Appointing Executors
    What is an Executor?
    Alternate Executors
    Overview of Executors’ Duties
    What Precisely Does an Executor Do?
    Probate of an Estate
    Grant of Probate
    Who is Entitled to Act as an Executor?
    Who Should be Your Executor?
    Naming an Out-of-State Executor
    Cash Reserves During Probate Administration


    Chapter 6 - Guardians and Children
    What is a Guardian?
    Sole and Joint Guardians
    Alternate Guardians
    Appointment of a Guardian
    Who Can Be a Guardian?
    Should I Appoint Guardians for My Minor Children?
    Considerations When Choosing a Guardian For Your Child
    What Happens When No Guardian is Named in Your Will?
    Leaving an Inheritance for Children
    Management of Children’s Property
    What Happens Without Property Management?
    Options for Property Management
    Appointment of a Property Guardian
    Uniform Transfer to Minors’ Act
    Child Trusts
    Children’s and Family Pot Trusts
    Whom Should You Choose as a Trustee?
    Trustee’s Duties


    Chapter 7 - Estate Planning
    What is Estate Planning?
    Last will and Testament
    Revocable Living Trusts
    Joint Ownerships
    Pay-on-Death and Transfer-on-Death Accounts
    Insurance Policies
    Probate Free Transfers of Assets
    Transfer Procedures
    Reducing Taxes on Your Estate
    Planning for Incapacity
    Power of Attorney for Finance & Property
    Advance Healthcare Directives
    Living Wills
    Healthcare Power of Attorney
    Funeral Arrangements
    Guardians
    Conclusion


    Chapter 8 - Estate Taxes
    Estate Tax
    Federal Estate Tax
    State Death Tax
    State Estate or Death Taxes: Paid by the Estate
    State Inheritance Taxes : Paid by the Recipient of Property
    “Pick-up” Taxes
    Marital Deductions
    Charitable Deductions
    Other Ways to Reduce Estate Taxes
    Lifetime Gifts to Children and Grandchildren
    QTIP Trust
    Irrevocable Life Insurance Trusts
    Family Limited Partnerships
    Qualified Family Owned Business (QFMOB)
    Special Use Real Estate Valuation
    Conclusion


    Chapter 9 - Getting Organized and Making Your Will
    Before You Start
    Check Out Some Online Will Packs
    Getting Organized!
    Appoint One or More Executors
    Appoint a Testamentary Guardian for Your Minor Children
    What If You Own Property Overseas?
    Execute Your Will in the Prescribed Fashion
    Consider Related Documentation
    Cash Reserves During Administration
    Location of Will


    Chapter 10 - When Do I Need to Make My Will
    The Power of Now!
    What Happens Next? Always one of two things!
    So, When Should I Make a Will?


    Chapter 11 - Changing Your Will
    How to Change Your Will
    Using a Codicil
    How Often Should I Review My Will?
    Keep Your Will Updated!
    Revocation of a Will


    Appendix 1 - Glossary of Terms

    Appendix 2 - Estate Planning Worksheet

    Appendix 3 - Sample Wills

    Appendix 4 - General Instructions for Completing Your Will

    Appendix 5 - Specific Instructions for Completing Your Will

    Appendix 6 - Self Proving Affidavit - Type 1

    Appendix 7 - Self Proving Affidavit - Type 2

    Appendix 8 - Addition Clauses

    The following forms are included with this book:-

    Estate Planning Worksheet

  • Estate Planning Worksheet

    Will Forms
  • First will - Unmarried with no children, single beneficiary
  • Second will - Unmarried with no children, multiple beneficiaries
  • Third will - Unmarried with children
  • Fourth will - Married with adult children (for husband)
  • Fifth will - Married with adult children (for wife)
  • Sixth will - Married with minor children (for husband)
  • Seventh will - Married with minor children (for wife)

    Self-Proving Affidavits
  • Self-proving affidavit – Type 1
  • Self-proving affidavit – Type 2
  • Windows

  • 1GHz or faster processor
  • Microsoft® Windows® XP with Service Pack 2 (Service Pack 3 recommended) or Windows Vista® Home Premium, Business, Ultimate, or Enterprise with Service Pack 1 (certified for 32-bit Windows XP and Windows Vista)
  • 1GB of RAM
  • 3.5GB of available hard-disk space for installation; additional free space required during installation (cannot install on flash-based storage devices)
  • 1,024x768 display (1,280x800 recommended) with 16-bit video card
  • CD-ROM drive
  • QuickTime 7.1.2 software required for multimedia features
  • Broadband Internet connection required for online services*

    Windows 7 compatibility
  • Will Writer

    Why Our Customers Rely on Us to Protect Their Families?

      Lawyer Prepared Documents

    Lawyer Prepared Documents

    You will be using documents which have been prepared, reviewed and pre-approved by lawyers with years of estate planning experience.

      State Specific

    State Specific

    You will be using tried and tested documents specifically tailored to comply with the legal requirements applicable in your state.

     

      Advanced Features

    Advanced Features

    Your documents will contain advanced lawyer-approved provisions not usually found in standard run-of-the-mill online documents.

     

    Online Will