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  • Will, online

    Hello, have been procrastinating . Regretting it now.
    With the COVID, Need to write my will, especially for custody of kids if something happens to both of us . In early 40s with no health issues , but can’t predict with the virus.

    can you please inform about any online resource? Is it valid without notarization or lawyer. I don’t think I can find anyone or want to go out anywhere but hospital

    thanks

  • #2
    Any attorney will handle all the prep and proofing online via email. Depending on the state, they provide witnesses as well.
    You and spouse would spend 5 minutes signing at most. A basic will and guardianship with trustee for the kids is all you need.
    Wear a mask and sit 20 feet away!
    If you sign up for Hyatt legal, they steer you to an attorney. Save a bundle. Licensed attorney in your state with one short controlled contact. Might even have you sign in the hospital if you have witnesses.

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    • #3
      Thanks Tim, I will look into local attorneys.
      Can it be done without attorney? has anyone done that?

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      • #4
        Does your employer offer an EAP? Many of these come with basic legal services, like will prep. I looked into mine but the closest attorney in the 'network' was 150 miles away. So I'm looking for an easy option too.

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        • #5
          Looks like they do, will call tomorrow.If you come across an easy option, let me know . I will keep on looking.Thanks.

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          • #6
            Nolo will maker will do all this for $50 bucks. You download the software, answer a few questions, and print out the state specific will (I did not have guardianship, but I’m confident it is there in the basic package). All you need are two witnesses, but the package provides instructions for completing the steps for legal validity. Same for POA, etc. I’m not necessarily recommending this path, but is cheap, fast, and legally valid in your state.

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            • #7
              Thanks Larry

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              • #8
                The tricky part is the kids and the trust.
                The Hyatt was an EAP offer. I think they do individual and it’s a monthly that was cancellable. I was concerned and was considering going direct. One I was considering was on their network.

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                • #9
                  A few things to consider if you still haven't completed this or have done so but want to check that you've covered everything:

                  Considerations for do it yourself Wills: https://thinkfinance.io/5l5SDMLUjD

                  4 Areas to review in light of COVID-19: https://thinkfinance.io/JzUwO3IuRN
                  Founder, Coastal Wealth Planners: www.coastal-wp.com email: [email protected]

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                  • #10
                    Originally posted by Larry Ragman View Post
                    Nolo will maker will do all this for $50 bucks. You download the software, answer a few questions, and print out the state specific will (I did not have guardianship, but I’m confident it is there in the basic package). All you need are two witnesses, but the package provides instructions for completing the steps for legal validity. Same for POA, etc. I’m not necessarily recommending this path, but is cheap, fast, and legally valid in your state.
                    +1. I actually did it this way. Very straightforward, but my needs were not complex.

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                    • #11
                      Originally posted by tylerjw12 View Post
                      Does your employer offer an EAP? Many of these come with basic legal services, like will prep. I looked into mine but the closest attorney in the 'network' was 150 miles away. So I'm looking for an easy option too.
                      Our nearest in-network lawyer was an hour a way. I called a local one who agreed to join- saved 25% Maybe give that a try.

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                      • #12
                        So much to consider and you don’t know what you need to know. If you are a fairly new attending (couple?), lots of debt, little equity, online may be just fine. Not recommending, just saying. However, please get it reviewed and updated by a physician-experienced attorney in a few yrs or when you have positive net worth. Here are a few things HIPs don’t think of or realize could matter that I typically discuss with clients:
                        1. Negative net worth but have child(ren) + several million in life insurance. Really need to think about who you want to manage that money on behalf of your children as they grow up, marry, possibly divorce, etc.
                        2. How the proceeds are managed. Most DIY wills (and, actually, most from E&T attorneys that I’ve reviewed) give practically unlimited latitude to the conservator/trustee. Most readers here are more sophisticated regarding finance and may not want to give the person(s) the latitude to invest the insurance funds in whole life policies, questionable RE investments, or the startup their best friend is working on that is a “sure winner”.
                        3. When the corpus of the trust is distributed to the children and whether it is required to be distributed or the ttee has the latitude to continue the trust for asset protection (or protection from the proclivities of the child) purpose.
                        May not matter now, I understand and I’m not a fear-monger type of advisor. But you need to know when the DIY falls short and be prepared to update your documents.

                        As with finding an appropriate experienced CPA/financial advisor, it’s simply not about finding the best “deal”. Discounts can ultimately cost you 10’s or 100’s of thousands of dollars over your lifetime.

                        I’m sure Hank, a “real” lawyer, would have much valuable advice to add to this thread and I hope he chimes in!
                        Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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