Anyone ever done a Living Will?
By coffeebreak
@coffeebreak (17797)
United States
May 22, 2010 5:53pm CST
Anyone have any experience in making a "Living Will"? Mainly just for assets that are owned (no loans) that are solely in my husbands name so that when he dies, I get ownership of the items without probate and estate issues and all that crap.
Appreciate any comments, tips or thoughts.
2 responses
@drannhh (15219)
• United States
23 May 10
Maybe it would be easier just to change the ownership on each of the assets so that it is jointly owned unless he has some reason for not wanting to do that.
We looked into Living wills but it turned out not to be necessary because with joint tenancy on our real property and a full power of attorney in addition to the health care POA, then with his ordinary will I was able to transfer his assets without needing to go through probate. This was for property in California and Arizona (USA)
One word of caution on the POA, though, and that is some of the banks refused to honor the power of attorney so it was a good thing I have some accounts of my own with emergency money stashed away. Other recent widows had warned me, too, that some of the cre3dit card companies might turn nasty, and one outfit was unbelievably rude, but most of them were extremely nice. I think they did all raise the interest rates when they switched from our names jointly to just mine, but as I always payed his cards off in full anyway that is not a big deal for me.
I can say from recent experience that all the planning ahead that we did before he got sick paid off because when a dearly loved one is dying that is not the time to have to start thinking for the first time "What am I supposed to do now?" No matter how well you plan it is still going to be a complete devastating shock, but the more planning you do now, the better you will be able to cope later.
1 person likes this
@Jaluke (676)
• United States
23 May 10
I have not done a Living Will, but I'm relatively young and don't have a massive amount to own that I could really give away in a Will. If I've learned anything though based on people around me, it's good to have one just in case because you never know when something might happen and it's good to assure that your loved ones are all taken care of properly.



