Tuesday, October 6, 2009

Your Financial Future: Getting Your Will Right

Post by David Held

Your Financial Future: Getting Your Will Right
You may need legal help to have things turn out the way you want
By: Martha M. Hamilton

It’s easy enough to understand why most of us are reluctant to write a will. Who wants to confront mortality?

I finally drafted a will about 10 years ago after my lawyer sister insisted. I realized that if I were to die before my pending divorce was final, everything would go to my soon-to-be-ex-husband unless my will said otherwise, and that turned out to be just the motivation I needed.

Now things have changed, and I really need to pull together a new will. It has been on my to-do list for more than two years.

And yet, I haven’t done it, and I suspect I’m not alone. So I turned to Edward L. Weidenfeld, a highly respected lawyer whose specialty is estate law, to ask how people can get themselves motivated to prepare for the inevitable. And what he said was persuasive.

First, when you die there is going to be “a division of your worldly goods, and if you don’t say with some precision how you want it done, the court’s going to apply standards that may not reflect your wishes, and be more expensive,” he said.

But, more important, he added, “it’s really the caring thing to do. Just like you don’t like a houseguest who leaves everything in a mess, most people really don’t want to pass on a mess for their family.”

One legacy you don’t want to leave behind is a family fighting over your assets.

Click HERE to read on!


  1. My favorite part in this article was the fact that the motivation to write her will came from the fact that her ex-husband wouldn't get her assets.
    -Shawn Chandok

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  3. Yeah mine too. That's funny. The interesting thing is that I think there should rules to regulate wills and that put some common sense into the process.

    -Ahmed Al-Salem