Q: I have lost my original will. I have a copy. Should I have it notarized or rewitnessed. It was written over 20 years
it is a simple will leaving everything to my 2 daughters to split as they want. Just a house, car and personal belongings. Retirements funds in Vanguard are covered under beneficiaries at their firm. No debt or husband or other children.
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- Tennessee
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A: Estate plans should be reviewed every few years anyway. You should invest in a consultation with an estate planning attorney. There is more to a complete estate plan than just a simple will. A proper estate plan handles more issues than just distribution of the estate at death. You should also have a plan for disability. And your estate can be completely wiped out by nursing home expenses if you don't plan ahead.
A:
I would advise speaking to an estate planning attorney in the area in which you reside. It does sound like a very straightforward plan and would not be very expensive to set up. You could probably plan your estate to have beneficiaries on all your financial accounts such that the only major probate asset would be your home. If your home ifs the only probate asset at your death, the probate costs will be very minimal.
Whatever you decide to do, please make sure that your will is properly prepared and executed. Clients come to me all the time with wills that were not correctly signed and it can be a headache trying to probate them. Best of luck.
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