Here are the top 10 reasons why a “simple will” is all you need:
- You are penniless, homeless and have no family or friends to speak of.
- You are 100% sure that you’ll never become incapacitated.
- Your spouse, children and family are taken care of even if they don’t have access to any of your property or money.
- If you are in a permanent vegetative state, you’d like to stay that way – forever.
- Your child has a special need and is receiving government benefits – but you want to leave all inheritance to your child anyways despite the fact that it’ll disqualify him from all his government benefits.
- Your entire estate is worth over $1 Million dollars and you have no problem giving 45% of it to the government when you die.
- You have minor children and you’re comfortable with them inheriting all your life insurance and property because you think your 8 yr old has the financial capability and know-how to invest it and use it wisely.
- You love the idea that if you were to become incapacitated, your family would have to spend months and thousands of dollars to ask a judge to get guardianship over you.
- Your friend/neighbor/coworker got one done for $300 and you too want the cheapest possible deal you can get – having the best or an estate plan that works is not an issue.
- You are invincible and immortal.
If on the other hand, you realize that a “simple will” is not all you need and that you need to at least have a General Durable Power of Attorney, Health Care Proxy and Health Care Directive (and possibly a trust), then you should talk with an estate planning attorney.
And no, I don’t do just simple wills and I charge a lot more than $300 – but what I do do for you will work when you need it to.
