Posts Tagged ‘Testator’
Will planning
For the protection of teenage to young adult children, discussion about a family Will often is very important and prudent !
It may turn out to be the only direction or guide to ensure each descendent receives their fair share of a family’s assets.
Things can change rapidly in this high tech cyberspace world causing abrupt changes, even in short range family plans.
For teenagers to raise the subject of a family Will with parents often, is simply asking what will happen to them if there is an unexpected and unplanned happening to cause a lifestyle change?
Is there a good insurance policy by the parents to insure a good cash flow for the family if they are faced with an unexpected happening ?
If the family has a good insurance agent to invite over for a family discussion , that might be the first good step to take?
As teenagers, each of you can do your part to keep as engaged in this family planning process always. It is not just a one-time affair, and it will put you in good standing as you grow older, marry, and then begin your own family.
Families that care most about their own family members, seldom leave anything to chance. They take the necessary steps to lay out a plan for their family’s future. That powerful and wonderful document called a Family Will.!
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Don’t try to take any short-cuts when you start thinking about plans to prepare your Family Will!
Your family deserves better than that.
There are a few companies on-line that promote buying their off-the-rack, cookie-cutter-do it-yourself Will Forms to prepare your Family Will. While the forms look legal and professional, one size DOES NOT FIT ALL , and they DO NOT ADDRESS the many WHAT-IF’s, that would be raised by a lawyer!
And not just ANY lawyer !
When you decide the day you want to properly address this issue, take the time to search out a well qualified lawyer who specializes in Wills and Estates. Not every lawyer is trained in Estate and Wills Law, and it is important to secure the right kind. The same would apply to Notaries, and Trust Company Officers.
Because every individual and family’s situation is so different, the risk of using this type of On-line service, is too severe to fall victim to that type of Will preparation. In some areas, some Court jurisdictions do not recognize these type of Wills.
While the World Registry of Wills applauds these companies for trying to get people to get a Family Will taken care of, they will only agree that a personal hand-written emergency Will should be completed. ( a la the style as offered free on the World Registry of Wills website.) until people can get to a lawyer, notary, or trust officer, to get a proper Will completed.
Never cut a lawyer, notary or trust officer out of your Will preparation. Your family is too valueable and important, and deserves the best you can provide.
The World Registry of Wills website always aggressively promotes using lawyers when thinking about Wills. Check it out for yourself.
Are you, were you, who is ….going to be the Will Writer in your house?
The answer to that question has been narrowed down considerably since the recent revelation that Mothers of the World have burst upon the scene as the pre-dominant Will Writers in many households, and the number is growing by leaps and bounds.
It is only natural that Mothers recognize that home and family matters are the primary concern of parents. Focusing on family cash-flow, money and possessions both material and chikldren. It is important for them to keep track of things and know how to record them in planning discussions about inheritances, child guardianship, Wills, taxes, and shared property. They must also know about how a second income might affect their over-all estate planning.
While it may not be their intent to actually write the family Will, they have made themselves aware of the best and simplist way to accumalate all the necessary documents to be assembled, and how to proceed to prepare a first draft of a testamentary letter for their partner to see, before finalizing it , to present it to the legal professional of the family’s choice to draft the family’s final Will.
Mother’s recognize that they do not have to be the family Will Writer. They recognize how to enlist the services of other (often free) legal professionals to guide them against the numerous pitfalls often encountered by inexperienced people who desire maximum protective benefits from a properly drafted Will.
NOW, with more Mothers taking control of the Will planning, many more families will now be far better off facing any future without a partner.
IT WILL BE HERE REGARDLESS.!
While job, sports, entertainment, hobbies, family members and the UNEXPECTED, continue to dominate the minds of many, many heads of households, there is still that nagging thought…..that the Family Will has yet to be completed. Amazingly enough, still too many continue to let themselves be bothered by that nagging feeling.
This blog may have a comfortable suggestion for you , and it is going to take a little organizing on your part.
Four Simple Steps:
1…Go On-line to the website (www.worldregistryofwills.com) and download two of the informational Freebies. One called TAKE CONTROL, and the other, the Sample of a Hand-Written Will.
2…In reading the TAKE CONTROL freebie, you will see how to assemble the material you will need, and instructions on how to write your Testamentary Letter.
3…Right after that, sit down with your partner and write out a simple hand-written Will using the sample as a guideline. While this will only be an emergency draft of your wishes, it will at least provide some protection for your family in case an unexpected event intervene’s before you can get a proper Will completed.
4….Now….take the precious time to go on-line to REGISTER THE LOCATION OF WHERE THAT HAND_WRITTEN WILL IS GOING TO BE KEPT, with a worlds wills locations registry so that it can be easily found if needed unexpectedly. Because, if your Will cannot be found,……it was an exercise in futility, and maybe leave your family members in a state of bewilderment.
It is very important to do this, because it is your responsibility to know at all times, the location of your Last Will and Testament.
This blog has for sometime revealed that it is now easy to see that there is a new trend toward a new world order.?
It can be called the “Rise of the Women Economy !”
While it may sound like a TV Reality show, it is in fact a series of changes that have been taking place for sometime that bring forth a new financial reality for Women of the World !
****Women are now the primary home purchasers according to the National Realtors Association :
****The “Female Economy “ study showed that Women control almost 4/5ths of consumer spending:
****Women are now occupying almost 50% of the workforce, and growing:
Not only do 82% of women now rate themselves as knowledgable about home finances compared to 75% in 2008, two-thirds consider themselves “the chief financial officer “ in the home responsible for their families financial planning, investing, retirement and Wills according to the study of “Women and Affluence 2010 “, by the group WOMEN AND COMPANY.
That is now terrific news for the more than 80% of the world families to this date that do not have a WILL. With Mothers of the World now taking control of family estate planning and Wills, it is expected there will be aggressive action to now reverse that trend, to intead become a statistic that 80% of the World population do NOW HAVE A WILL, THANKS TO WOMEN POWER.!
Living Wills
FORESIGHT….is the act of looking forward.!
VISION….the act or power of imagination..?
VISIONARY….one whose ideas or projects are impractical, and incapable of being realized or achieved…?
HINDSIGHT….a perception of the nature of an event AFTER it has happened.! There is no second chance after a death. It is too late to address any problem.
Everyone …should have an up-dated WILL, and it is not an illusion to keep that focus in one’s mind until a Family Will is completed and the location of where it is going to be kept is officialy recorded with a worlds wills locations registry.
A WILL is a powerful document that ensures your well thought out plan for the future of your spouse and children. A set of written instructions as laid down by you that the Courts will abide by. It shows that you care for those that care about you.
If you have been putting it off to get a Family Will drafted is definitely flirting with a disaster or tragedy for that family.
The delay is most often a too busy schedule and not indifference or lack of caring , but simply not keeping the focus of the urgent necessity to address that task before almost any other function for the family. The precious assets of your familys well-being should at all times preceed any and everything you will do today tomorrow or next month.
Avoiding discussions about children, shared property, inheritances, Wills, and insurance matters just DELAYS THE INEVITABLE. !
So don’t be a visionary….instead, be a mover and a shaker, credited with getting things done.
When a Family Will is drafted, even with legal assistance, IF it cannot be found when needed, it was an exercise in futility!.
There is not a lot of value in taking the time to properly prepare a Family Will….if you are not going to take the vital next step to register the location of where that valueable document is going to be kept!.
Being branded “a waste of time,” and an “exercise in futility” can both be true, because in too many cases many Wills are lost forever in archives.
The legal profession estimates that 80% of the world population as yet do not have Wills, and of the estimated 20% that do, less than half of those cannot be properly executed because they cannot be found when needed!.
The worlds wills locations registries are encouraging those who write Wills to include in their services offered, to register the locations of where their clients completed Wills are going to be kept, so that they have a source of retrieval when needed. Clients are asked to tell their legal professional to register the location of where their Will is going to be kept, and if they fail to do so, to immediately take steps to register its location on their own.
IT IS BEST TO KEEP THE WILL LOCATION REGISTER INFORMATION TO YOURSELF, BECAUSE IT IS YOUR SOLE RESPONSIBILITY TO KNOW WHERE THAT DOCUMENT IS, AND ALWAYS AVAILABLE.
What is the most important document you will ever put your signature to in your life ?
1…a Passport ? 2…an immigration document ? 3…a Gov’t or Corporate Contract ? 4…title to a home, condo, or cottage ? 5…your family Will ? 6…title to a car, a boat, or other recreational equipment ? 7…family birth certificates,? 8…marriage license ? 9…seperation or divorce papers, ? 10…a life medical decision ? 11…home renovation contract, ? 12…sports contract, ? 13…political voting contract, ? 14…religous connection ? 15…entertainment contract, ? 16…season ticket holder, ? 17…a Health Care Proxy ? 18…signing for a power of attorney ?
While many will find these a challenge, the hands down winner is “ YOUR WILL ! ”
The reason,….is really … very simple.!
There is usually nothing more precious than the status of your loved ones!.
You work hard to protect, nurture and educate your family, and you want to take steps to insure a similar lifestyle is available to them after your passing.
You sign your name to this WILL that the Courts must obey to your satisfaction!…The most powerful day of your life.!
THE NEXT IMPORTANT DOCUMENT FOR YOU TO SIGN, IS TO REGISTER THE LOCATION OF WHERE YOUR WILL IS GOING TO BE KEPT, WITH A WORLDS WILLS LOCATIONS REGISTRY SO IT CAN BE EASILY RETRIEVED WHEN NEEDED !
GET OUT OF YOUR POSSESSION.!…EVER. !
That is a mantra one must follow, once they themselves know where their Will is now located.
While this attitude may surprise some who might already have a Will, it will not surprise the majority who as yet do not have a Will.!
WILL executors and Administrators have no fool proof method of discovering whether a Will has been made, when it was made, and where it is located , and that is why the World Registry of Wills (worlds Wills Location Registry) came into existence. It will help make the administration of the estate perform with greater efficiency because they can easily determine if there was a Will in existence.
Individuals, banks, trust companies, will writers and lawyers and the rest of the legal profession are now encouraged to make registering the locations of their clients Wills and other important documents, part of their service to their clients.
For individuals with too-busy schedules to get to a lawyer as yet, even a HAND-WRITTEN SET OF INSTRUCTIONS would be acceptable to register the location of where this letter is going to be kept with a worlds wills locations registry. because when located, it would stand a good chance of being accepted by the COURTS.
This blog urges individuals to register ON-LINE their WILLS LOCATION with the worlds wills locations registry, and then provide copies of this registry info with two family members, two close friends and the spouse, so that up to five people may remember where the Will information is kept.
Since it is the sole responsibility of the testator to always know where the Will information is located, (even if a legal professional drafted the Will,) it is strongly recommended to always keep your Will information in your own possession. Never leave it in someone else’s hands.
Will planning
Did you know that parents can easily issue passports to their children and family ?
Not an official passport to other countries….but a document to try to insure the good and welfare for their family members when a parent ceases to be available to protect them ?
IT IS CALLED A WILL.! In essence a passport to the continued good life they may now be living, that would be accepted by the Courts.
Wouldn’t any parent prefer to draft a legal document for a better life for their family , rather leave everything to chance that might bring doom and gloom ?