Friday, September 11, 2009

Consider Items Of Sentimental Value When Writing Your Will

Generally, when people draft their Will, most are concern about the bigger items like houses, cars, businesses and other assets. Very few give consideration to smaller items like golf clubs, certain collection or perhaps even mundane things. It comes to no surprise then that beneficiaries quarrel over a ring, certain jewelery or watch or anything that has sentimental value.

Consider also the things in your computer for example all those digital photos or videos which might have personal or even commercial value. You should write them down in your Will to prevent unnecessary squabbles.

Monday, January 7, 2008

How To Write A Living Will

Before we discuss how to write a Living Will, let us define what a living Will is. Simple said, a Living Will is a legal document, which lets a person decide, as to whether or not to be kept on artificial life support, if the need ever arises. It is usually accompanied by a specific power of attorney to appoint someone to make important health care decisions on behalf of the person.

In the movies, usually a person having a Living Wills is usually depicted as wanting to "pull the plug" and not want to live in a vegetative state. However another name for Living Will is a "will to live" which emphasizes the wish to live as long as possible rather than refusing treatment. This runs opposite to what most people believe.

When you plan to write a Living Will, it is better if you have some medical knowledge about the type of ailments or accident. If not, then a professional should be there to advise you. If you are not clear about these medical terms, you could find yourself in serious injuries and still aggressive treatment is given, which is not your intentions. The other potential danger is if someone refrain from giving treatment for a treatable injury.

Another point about Living Wills is that medical advances happen all the time. So you should review your Living Will every few years to ensure it is being kept updated to take these changes into consideration.

Usually your Living Will includes common types of medical procedures that are usually administered to patients who are seriously ill, including transfusions, resuscitation, diagnostic tests, dialysis, administration of drugs and surgeries.

Since a Living Will involves both the person's family and loved ones, who help in its implementation, it is something to be discussed together so there is understanding and agreement. It is mandatory for the Will to be dated and signed before two witnesses. Consider also that in some states, food and water may be considered life prolonging and the consideration to forego them may fall within your rights.

A Living Will may be revoked in writing, or orally, by either the person or by a designated proxy, also called a surrogate. As with any legal documents particularly any Will, it is very important that a living wills be as specific and detailed as possible.

For writing an affordable Living Will, consider this site.

Friday, November 30, 2007

Where To Keep A Will

After you have written a Will, the next important thing is keeping the Will. Many people don't think about this as thoroughly as possible. Why is keeping the Will properly important? If your Will is destroyed either accidentally or intentionally (but not by you), then the probate will assume that you have no Will. Distribution of your assets will follow the state or country you are in.

For instance, in you Will, you decided to give all your estate to your spouse and choose NOT to leave anything for your adult children, but the default laws in your country state that your living parents, children and spouse have a share, your children might just intentionally destroy the Will so that they get a share now instead getting nothing as per your Will.

The other reason for keeping your Will at a safe place due to practicality. Most of us are forgetful. After several years, you or your spouse might not remember where you kept the Will. Somethings a Will might be accidentally thrown out when you do spring cleaning. Another common thing that happens is when you move house, documents and items get missing all the time.

Some financial institution or Will writing services do provide safe custody of your Will. Consider such service as they are quite cheap and reduce the possibility if missing Wills.