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We Need a Will

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My wife and I have been making do with a pair of old, do-it-yourself wills that I prepared using an old version of WillMaker (formerly from Nolo Press, now an Intuit product). To give you an idea of just how old this software is, it’s not even Y2K ready — the last time I updated our wills (about four years ago) I had to manually edit the output file to change the year from 1901 to 2001. Anyway, things have changed dramatically for us in the past few years. Both our finances and family have grown. In fact, our two youngest kids aren’t even mentioned in our wills. Thus, it seems like it’s time for an update.

Our current wills are pretty standard stuff… If I die, everything goes to my wife with our kids as secondary beneficiaries. If my wife dies, everything goes to me with the kids as secondary beneficiaries. We’ve named a guardian for the kids but, beyond that, we haven’t done any additional estate planning. I’m not really sure what more we need at this point but, given our dramatic increase in responsibility, it seems to me like it’s time to think about enlisting professional help — if for no other reason than the peace of mind that comes from knowing that all of our ‘i’s are dotted and our ‘t’s are crossed (legally speaking). It’s going to take us a bit to get going on this, but I plan on chronicling the process here once we get the ball rolling.

Got an opinion as to things we should be considering? Thoughts? Advice?


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