Dear Judy,
I’m getting ready to undergo an angiogram — and I’m scared.
I ave been diagnosed with a blockage in the left side of my heart. I have three children and no will. I know it will cost me a couple of thousand dollars to have an attorney draw up a will.
But I will need that money for co-payments. So here’s my question: Will a simple hand-written will suffice? Or do I have to do something more for my three children?
Sue
Dear Sue,
I am doing 2 things for your right now, because I know you’re about to go under the knife, and you need a speedy reply. So first I’ll give you my opinion. I have also sent on your question to Marc Levine, a top estate lawyer in Maryland, for his opinion. His view is more authoritative and better for longterm planning, and I urge you to consider it while recovering.
Mine is perhaps a quicker solution, so it will come first.
1) Wills don’t have to cost $2,000 or anywhere near that amount. You can, for instance, get a LegalZoom Will (www.legalzoom.com ) for a fraction of that amount. Follow the directions, and presto! you have a legal will. It very likely, depending on the state you live in, needs to be notarized and witnessed.. Do it right now!
Bank notaries typically charge 2 bucks (or nothing if you have an account with that bank) to stamp the document. And the witnesses can be 2 bank employees — free of charge.
In that Will you must include, along with the possessions you intend to leave your kids, the names and addresses of those you would like your children to live with, if the worst should happen. Tell that chosen person (or persons) straight away, and get consent so there are no surprises later on.
Also – Make sure that the person who will care for your children is in good health and reasonably young.
(I have absolutely no financial interest in LegalZoom or any other online legal firm, but I have used it myself for other issues, which is why I suggest it)
2) Here’s another thing you need to do, besides provide for your kids in a Will. You need a Living Will as well for YOU (it is also called an Advance Medical Directive). An Advance Medical Directive includes which emergency measures you want, or don’t want, in case your heart stops while on the operating table — as well as other issues that may come up. You can download that document as well from a good online legal outfitl..
Marc Levine of Bethesda, MD, the brilliant estate attorney, has other valuable ideas on the matter: Here’s what he says:
“If the children in question are minors, I don’t think a simple handwritten Will is a good idea.. Preparing a trust for children is more complicated then what an individual can do on her own.
“If you really don’t feel you can afford an attorney, there is computer software available for drawing up Wills — usually for less than a hundred dollars.
“It’s a lot better than writing it yourself. But still — Not as good as using an attorney at all. If the kids are minors, I suggest she find an attorney willing to work with her, perhaps on a payment plan. Most straightforward wills/poa/health care directive packages should be available from an attorney for less money than what she mentioned.”
Thanks from both Marc and me for writing. And please get well soon.
Judy
It’s fine, Judy, that you gave Sue good advice. But you missed an oppoortunity to tell ALL your readers that they should must have wills, which should be updated as circumstances change. I’m no doctor, but my guess is that car accidents kill more people than angiograms. If people worry about dying before they go under the knife, they should panic when getting into a vehicle.
Your advice — and Marc Levine’s excellent and detailed advice — should reach as wide an audience as possible. Sue’s situation is not special, particularly in these bad economic times. Good advice, which is free, is a rarity. Woinderful. Congratulations!
“It’s much better than writing it yourself. But still - Not as good as using a lawyer at all. If children are minors, I suggest you find a lawyer willing to work with her, perhaps in a plan payment. Most simple wills / PDA / packages health care directive should be available from a lawyer for less money than what you mentioned. “