Legal Question in Wills and Trusts in New York
simple will
For a simple will & trust, is it okay to do it myself using a CD program? What is the advantage of having a lawyer draw up the documents? Pros & Cons of both?
Here's my situation: I am married, 2 children under 3 yrs old, assets of less than $600,000.
2 Answers from Attorneys
Re: simple will
The advantage of having a lawyer draft your estate plan is that you're not leaving anything to chance. Some computer programs contain information that is either out of date or not applicable to people living in certain states. Does your computer explain what 'per stirpes' means? I could understand if someone who was low on money used a computer program, but for someone with a $600,000 estate to try to save $1000 by substituting a CD for an attorney seems to be a rather dubious decision.
Contact your county bar association for a referral to a reputable estate planning attorney. Good luck!
Re: simple will
It is very important to have an attorney draft a Will and supervise the signing.
There are alot of legal aspects that need to be adhered to regarding specific articles (i.e- guardianship for your children and Trust provisions for minors). In addition, two disinterested witnesses must sign the Will and an Affidavit.
The legal cost of a Will is minimal so it is in your best interest (and the interest of your family left with the potential litigation of an unvalid Will) to have an attorney draft and supervise the signing.
You may contact me at anytime for a ocmplimentary consultation.
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