Last Will and Testament

[Dolby]

I'm going to be drawing one up soon. I'm going to speak to someone to assist, but are there norms or clauses that one usually puts in that he may forget to tell me about?

My dads was a one page, which everyone told me is not normal.

Do you specify if X passes on, ten go to Y and Z?

Anything important to add?

I've generally found ven when seeking professional advice, it's always good to have a few opinions of what others have done.

 

[CathJ]

It depends a lot on your situation. Mine is a pretty simple, one-page effort because I don't have debt, and all my assets would go to one person. When that person passes on, I'll redo my will, i didn't set up a whole chain of beneficiaries.

If you want to split it up between beneficiaries, or add conditions or things like that, it might be worth getting it done professionally. Otherwise just get the template from CNA and fill it in, and add any simple clauses you need (I added a clause for organ donation, for example.)

 

[Dolby]

Oh ... thanks. I'll go the CNA route too ... mine will be pretty simple too. I just thought you needed to list everything material you own - but mines all going to a signle person anyway.

Thanks CathJ

 

[Claymore]

I did mine at the bank (for myself and my wife); we specified insurance policies for kids etc., the co-executor, and guardians of the kids.

 

[semiautomatix]

I'm going to be drawing one up soon. I'm going to speak to someone to assist, but are there norms or clauses that one usually puts in that he may forget to tell me about?

My dads was a one page, which everyone told me is not normal.

Do you specify if X passes on, ten go to Y and Z?

Anything important to add?

I've generally found ven when seeking professional advice, it's always good to have a few opinions of what others have done.

You dying? Can I have your TV?

 

[Dolby]

Not planning in the next few years, so no

It'll be old by then!

 

[blunomore]

Everyone should have a will, but the contents depends on your personal situation, as was said before.

Just a tip: If you have life insurance and you listed a beneficary (e.g wife or kid/s), the proceeds of the insurance will go directly to the beneficiary and will not form part of your estate. If you did not list a beneficiary, the proceeds will form part of you estate.