majus comments on Procedural Knowledge Gaps - Less Wrong

126 Post author: Alicorn 08 February 2011 03:17AM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (1477)

You are viewing a single comment's thread. Show more comments above.

Comment author: [deleted] 08 February 2011 03:33:41AM 4 points [-]

How do you write a will?

Comment author: majus 08 February 2011 05:00:59PM *  0 points [-]

You can get a warm fuzzy feeling from doing it yourself with a downloaded form (say from Nolo) or a cheap app (like WillMaker), but there are subtle ways to mess up, so professional advice is highly recommended. Doing it yourself, you may tend to shy away from thinking about low-probability or painful scenarios, and you don't get to debug it by changing it and trying again. A will is just one part of estate planning, and sometimes a will isn't needed (if the estate is in a trust, its beneficiaries take precedence). Usually you'll need to coordinate the will and your insurance coverage, at a minimum. But don't procrastinate; you can really get burned by having no will at all. In Texas, for example, if you die married and intestate (no will), and you have kids by a previous marriage, your spouse is legally bound to give half of the estate to his/her step-children immediately. Probably not what you would have planned.