Legal documents and how you go about getting them done

My financial advisor is reminding me that I should have a will and designate someone with power of attorney. (Hopefully neither will be needed for a very long time, but it never hurts to be prepared.)

I'm curious how others have handled these documents -- through an attorney, or using software or websites that help you set up legal documents. I looked into a popular website that does this sort of thing, but then I read that all they do is charge you to provide documents that you can find for free on your own without providing any actual legal advice.

My situation is pretty simple, since I'm single and have no dependents. So it might be overkill to pay an attorney, but then again maybe it's not?

Anyway, I thought it could be useful to open a discussion about it, since it's a topic that everyone ought to deal with, especially if you do have dependents.

My husband and I are both lawyers and we are FINALLY setting up trusts, wills, etc. :rolleyes: We don't do this sort of law, so it wouldn't have made sense for us to do it ourselves, but I really can't believe we waited this long. We both mid to late 40's.

If your situation is fairly simple and you have no dependents, I don't see why you couldn't do it yourself online or with a Nolo type book.

Ha! And my lawyer-hubby has how many years on MP and the Grand Pois? Let's not go there. Maybe once his current executor duties wind down we can deal with it. Without dependents, he would also recommend standard forms.

When you say "power of attorney," do you mean for health care purposes? I think many, maybe most, states have a standard form that must be used - if your doctor's office doesn't have them, the social services office of any hospital will.

Way outside my expertise too, unfortunately (and also something we've been procrastinating on :rolleyes:)

Quote:

---

Originally Posted by SadieKate

Ha! And my lawyer-hubby has how many years on MP and the Grand Pois? Let's not go there. Maybe once his current executor duties wind down we can deal with it. Without dependents, he would also recommend standard forms.

---

I am relieved to be at least less delinquent than someone I respect....

Another lawyer here who hasn't gotten around to this yet either. Will someone please shame me into action?

My financial adviser told me I wanted a medical power of attorney and one for financial issues. Could be the same person but doesn't have to be. I guess it might differ depending on the state you live in. And I'm sure there are differences for folks who live in other countries.

I'm realizing now that I had not thought about who would be the executor of the will. I guess I would choose the same person as the financial power of attorney. Though I need to discuss it all with her first...

Check out legalzoom.com. I did my living will and advanced directive there.

Quote:

---

My financial adviser told me I wanted a medical power of attorney and one for financial issues. Could be the same person but doesn't have to be. I guess it might differ depending on the state you live in. And I'm sure there are differences for folks who live in other countries.

---

This is the same for Canada also. Already a doctor-sister told me this....after all, she is one with the authority to phone/contact family member on health care issues/death for her patients. She is an emergency services doctor.

Wow, all you lawyers who don't have a will make me feel great, thanks! :)

It depends on your situation. If you don't have any assets or children it's pretty simple.

When our daughter was a baby we got some software, I think it was called Family Lawyer but it was 18 years ago. Our situation was simple (no assets, 1 kid) so the software was sufficient for our needs. And a couple witnesses to sign. I forget, we might even have had it notarized. I sent one copy to my parents (designated guardians) and we have the other.

In a few months we won't even have guardianship issues.

Quote:

---

Originally Posted by maillotpois

I am relieved to be at least less delinquent than someone I respect....

---

I'll tell Bill because you certainly weren't talking about me. :p

So, update. While I've been thinking about who to name as executor and power of attorney, the time has come for enrollment in benefits for next year at my job. Turns out they offer a benefit that involves access to legal advice for basic things like the documents I need to set up, and the cost would be reasonable. So I think I'll sign up for that, and get moving on it in January when the plan takes effect.

Thanks for everyone's input!!

I need to do this but have no idea where to start. Do you have a pretty good idea what you want to leave to who before you sit down to write it, or does the lawyer help with that?

Of course you should have some of it thought out. Unless you've got lots of money to pay the lawyer. I'm sure there will be things not thought of, but you should at least have a general idea.

It's really important to put thought into the executor. It should be someone you can trust. Same for power of attorney. I currently have POA for two family members in addition to DH, primarily for financial stuff.