A Will for a New Property

[ghanaba]

Hi
I'm not sure if this is the place to post this question..
Basically i need a generic document or website that has a sample document such as a WILL.. I know of legalzoom.ccom, but that I think is more of the US and not Canada. Not sure though..
I have a new house and I want to draft a WILL, for the property to go to my wife and kids in the event of my absence.
One lawyer wanted $300 but I think that is too much..
Any websites or sample documents I can find..
Also where do I keep this document, do I leave it with a friend or lawyer.
Any suggestions or ideas are welcome..

[mlc2000]

$300 is too much ?

Just get it done right, so there's no problems after you shuffle off this mortal coil.

[gman]

Hi
I'm not sure if this is the place to post this question..
Basically i need a generic document or website that has a sample document such as a WILL.. I know of legalzoom.ccom, but that I think is more of the US and not Canada. Not sure though..
I have a new house and I want to draft a WILL, for the property to go to my wife and kids in the event of my absence.
One lawyer wanted $300 but I think that is too much..
Any websites or sample documents I can find..
Also where do I keep this document, do I leave it with a friend or lawyer.
Any suggestions or ideas are welcome..

Go to Staples, buy a Will package, read it, understand it and follow the exact instructions.

[Pete_Coach]

$300 is too much ?

Just get it done right, so there's no problems after you shuffle off this mortal coil.

+1
If you are concerned enough about your Family that you are thinking of it, then get it right. The lawyer will ensure that your family will get it all in the case of your demise but as important, if you become incapacitated and unable to make decisions, your lawyer will make sure that your Family (Wife) can speak for you vice the Government (Living Will). This is extremely important to your family (remember that you will be pushing daisies) and they will be left with the legal junk. Don't do this yourself and get a false sense of goodwill. It is not just the property but all your possessions.Your Wife should get one too so it will be left to you if she succumbs (?) or to the kids if you both bite it.
Also,if you have a mortgage, you are most likely paying mortgage insurance. Mortgage insurance guarantees that the bank gets paid first. In my opinion, I would go and get some Life insurance (term) instead and make your Wife and kids the beneficiary. Life insurance that covers the mortgage gives your dependents the money first and they decide what they want to do (pay the house off, keep paying the mortgage, sell the house and keep the money etc).

Search the Financial Services forum for Wills and you can find some good info and advice. By the way, I am not advocating lawyers but in this case, they are useful

[pintobean]

+1 to what everyone else is saying about getting a lawyer and doing it right...

But just as an FYI - if you bought this new house by yourself, and you are legally married and living with your wife in the house, then it will most likely go to her automatically anyways if you die without a will...

[Dustbunny]

Don't mess with DIY wills. One of my friends is in year 2 of trying to settle her mom's estate because she had a DIY will. So far she's had to spend over $1000 to a lawyer, had headaches and hassles no one could have anticipated, all because her mom tried to save a few hundred. Outcome is the will is invalid because of a witness signature so it was false economy and they don't tell you all you need to know in their packages.

Call around and get the best price. All lawyers do not charge the same amounts.