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April 3, 2003
Estate Planning
CONSUMER NEWS - People put off writing a will for various reasons, but not bothering with your estate planning could be a big mistake. Everything you own: your home, your furniture, your savings could be tied up in a court battle.
Liza Dekirmendjian of Tarzana has two small children, but not until recently had she thought about making out a will. But now Liza and a lot of Americans are no longer putting off writing a will or a living trust. Whatever the reason, one thing is certain, not making out a will or living trust can be a big mistake. Without a will, it's very difficult to ascertain what can happen to your estate. For example, if you don't have a will and you have minor children, the court may decide who takes custody of your children. And this is a decision you should make, not the courts. Brian Lee is an attorney, but he is also president of one of the largest Internet legal services, www.legalzoom.com. He says the number of consumers wanting to make out a will or living trust has jumped dramatically the past few weeks because of the war. Dekirmendjian not only used LegalZoom, but she also has an attorney friend of hers checking her work because mistakes can make for big problems down the line. Brian Lee: Mistakes can nullify a will. In actuality, if any provisions of the will are changed by handwriting, if it's an important part of that document, then it could invalidate the will. While wills carry out your wishes after you pass on, living trusts keep your assets out of a lengthy probate court. Howard Hughes died without a will and his estate was in probate court for over 15 years... RELATED LINKS: If you would like to do your will or living trust on line, log onto www.legalzoom.com. |
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