Question for attorney??? Any out there?

Mulan

My elderly father wishes for me to be his sole beneficiary when he dies. He doesn't have much money, but I am not inclined to want my half brother and sister (ages mid 20's) to get anything. They never call or come to visit him, and have made it clear he is just their birth father. I know they will try to get something when he dies though..............their mother will encourage them to get what they can.

If we type a document and have it notarized, will that be enough, or do we have to hire an attorney and get a will drawn up? I have a brother who also wants me to get everything since I am Dad's full time caregiver, but I will share with him anyway.

In our State, all assets are divided equally among the surviving children, if no will is present.

Thanks!

cruzanheart

Hi, Mulan! I'm a legal secretary, not an attorney, but I would strongly recommend hiring an attorney to draw up a will. With that kind of attitude in your family, I think it's safe to assume they'll contest anything so you'd better have your legal ducks in a row and a law firm to back you up.

Nina

iiz2cool

I'm not sure about the laws in your state, but in Ontario parents are not obligated to leave anything to their children. If there is no will present they would probably get equal shares though. I'd recommend getting a lawyer to draw up a proper will. Sometimes the wording can change everything. I know of one family where the two daughters got almost nothing in favor of a charity that chose to contest their fathers will because of the way it was worded. They lost out on a lot of real estate, and basicly could only take personal effects.

Walter

Mulan

Thanks..............I guess we should find an attorney then. Any guess on how much that will cost? At this point he has less than $10,000 so I don't want to spend much.

My half brother and sister never called or even sent a card when Dad had his stroke last month. I let their mother know...........she is a nice person, but said the kids just don't have any connection to him anymore. She feels it isn't healthy but also said she has talked to them and can't budge them.

Nathan Natas

You have a PM.

iiz2cool

When my father had his will done it cost about $50 but it was a cheap lawyer. You could probably expect to spend around $300.

Walter

TresHappy

This will thing came up in my family recently. I know grandma put in the will that if anyone contested the will, they would forfeit their inheritance. I don't know if that would work.

Wills are one of the less expensive legal documents to draw up. I think mom paid about $200.00 for grandmother's will to be done (along with her living will, etc.).

When it comes to money and the elderly, all the greedy sorts come out of the woodwork. When my grandmother was in the coffin during visitation at the funeral home, her youngest daughter, my mom's youngest sister, was asking my parents about the will. This poor woman hadn't even been buried yet and her daughter was all worried about the $$$ she might get.

Mulan

Thanks everyone. Great responses, and thanks Nathan. Now I know what to do.

KGB

Mulan,

There are two types of wills, one is a will as you and most understand it. It can be disputed. They do not cost much to do but in the end anyone can argue it.

The other is a living trust. This one does cost and will require a Lawyer but it cannot be disputed. Whatever the trust says has to be fulfilled under no circumstances.

I would seriously inquire an attorney, or you can go to your local Library and check out some books on both subjects, but if you do not want your half siblings to receive anything then I strongly suggest your father files a trust... Good Luck, KGB

La Capra

If all his assets are basically liquid (no real property), he may add a "pay on death" signature to the account/s. This allows you to go in and close out the accounts. If it is a life insurance policy the beneficiary must be changed on proper insurance company forms. If they are properly signed and witnessed, the insurance company will follow his wishes. Trusts can be contested. My step-aunt is doing this right now (even though she stole 8K from my grandma right after her dad died). Thousands in legal bills draining the trust as we read. Anything can be contested-doesn't mean they will win. Just costs a fortune to defend.

A token bequest ($100) makes clear the intention of the benefactor. Just don't delay. Sometimes getting all the paperwork in order takes several go arounds... best of luck to you. Shoshana

Question for attorney??? Any out there?

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