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Do any of you have a will just in case something were to happen, and how do you make on that is legally binding?

We were talking about who our kids would go to if anything were to happen to both of us and it brouht up the subject of a will, so that our families would know what we wanted. How would you go about doing something like that? Id rather be safe than sorry…

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Answer #1

Well I would firstly consult a lawyer, because well estate taxes etc. will always come into play with a will (and you don’t want your children to have to bear that - you’ll even pay estate duty if you do not have a will, so it’s good that you are thinking about it). Mostly a will is just a document stating what happens to your money and how it should be distributed after you are dead. Also you’ll need to both sign it and get I believe 2 witnesses to sign it. If in the case you do not have money for a lawyer, write up a document with the signatures etc and post it to yourself, that way you have a valid legal document so to say, which will have to be followed in event of your death.

Answer #2

You could get a notary public to sign it and witness you and your spouse or significant other signing it….if you hire a lawyer, there’s less chance of family related lawsuits suing over your stuff after you are gone.

However, generally speaking, with kids it’s clear cut in most states if you are married.

In our case, due to our recent trip, we drafted a pretty simple one that outlined the instructions for the family in case of anything happening. Didn’t get a notary though as they’re not available here, but we’re headed to the states soon and I’ll probably get a notary and one of those nolo books, which have decent templates, to make it official.

Answer #3

Ah, I forgot to mention - I’m from California / Oregon and have better knowledge of these issues from talking to my folks in Oregon than elsewhere…so, in places like Maldives for example, from the small bit I know, it’s very different. As Irene said, the very best thing to do is get a lawyer to help.

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