Home

Think You Don't Have a Will?

Articles

FAQ's

Practice Areas

Estate Planning 101

Think you don't have a will? You do - the state intestate provisions. These are the default the state imposes on those you leave behind should you fail to make other arrangements.

What does this "Will" have to say?

FIRST: If none of my children are minors, I give my spouse fifteen thousand dollars ($15,000.00).

SECOND: I give one half (1/2) of the balance of my estate to my spouse and (1/2) to my children.
   (a) I appoint my spouse as guardian of my minor children, but as safeguard, I require that he/she report to the Court regularly and give an accounting of how, why, when and where he/she is spending the money necessary to care for my children.
   (b) As a further safeguard I require my spouse to pay a court fee to guarantee that he/she exercises proper judgment in the handling, investing and spending of the children's money, unless my spouse can prove to the Court that such fee is unnecessary.
   (c) As a final safeguard, my children shall have the right to review the financial records of my spouse pertaining to all his/her financial actions.
   (d) When my children reach the age of eighteen (18), they shall have full rights to withdraw and spend their shares of my estate. No one shall have any right to question my children's actions on how they decide to spend the money.

THIRD: Should my spouse die before me or die while any of the children are minors, I do not wish to nominate a guardian for my children. Rather than nominating a guardian I prefer the court to choose for me. If the court wished, it may appoint anyone who asked the court to be a guardian and is interested in caring for my minor children. If any child has reached the age of sixteen (16), they may ask the court to appoint the guardian of their choice.

FOURTH: Should my spouse remarry, his/ her second husband/wife shall be entitled to take 1/3 share of what my spouse possesses or 1/2 share if there are no surviving children. The second husband or wife shall have the sole right to decide who gets his or her share, even if he/she excludes my own children.

FIFTH: Under the present tax laws there are certain legitimate avenues open to me to lower death taxes for my family. I prefer that the money be used by the government as tax rather than for the benefit of my surviving spouse and children. I direct to make no effort to lower my death tax so the government can benefit substantially from my death.

SIXTH: I appoint my spouse to administer my estate and require he or she pay for a bond to do so.

SEVENTH: Unless there is court approval, I direct that the maximum funeral expenses paid from my estate is five thousand dollars $5,000.00.