Legal Question in Wills and Trusts in Ohio
Would a letter written by my husband and I containing information about where our life insurance would go and house and children in case something were to happen to us be legal if we have it notarized? We are going on vacation and I want something in writing if god forbid something were to happen
2 Answers from Attorneys
No that woudl not be legally binding in Ohio. Life insurance is governed by beneficiary designations and you must complete the designation and file them with the life insurance companies.
You may designate a guardian for your children in a writing but it must meet certain legal requirements.
In Ohio a will must be witnessed by two persons who are unrelated to you. A notary acknowledgement is not enough.
Attorneys are used to dealing with last minute requests from persons going on vacation. I would consult one before you leave so that you can enjoy your vacation without any worries.
Your life insurance will pass to the beneficiary listed on the policy. If no beneficiary is listed, the proceeds would be part of your probate estate. In order for the document to be a legal will, you need to have it witnessed by two witnesses. You can go online and look for a simple will form that you can print out and get witnessed. However, you can also go to an attorney who can get that done for you before you leave and make sure it is done correctly. If a simple will is what you need, that should not be a problem getting that done in one meeting.
If you do nothing or the execute a will incorrectly, the house and all your assets will pass by the laws of decent and distribution and would go to the kids, evenly. But, a really important issue is who you want to act as guardian if the kids are minors. It is much easier when you have a will or trust that specifies that so there is no question as to who you want taking care of your kids. If you need more information or wish to consult to get a will done before you leave, you can contact me through my website at: http://www.socrateslegal.com.