Magnuson Lowell Blog
Each week we post a blog about relevant legal issues. Glance through our various topics to learn more about a particular legal situation.
According to a Harris Interactive survey, 35% of adults lack one of the most necessary documents every person should have, the will. A last will and testament is a set of papers which lay out how your Estate Planning will be distributed upon your death. This means, that upon death 65% of the American population may not have their amassed fortune (no matter how big or small) delegated how they would want.
While in some cases it may work out in accordance with the deceased's wishes, sometimes the lack of this basic document may lead to years of litigation and thousands of dollars wasted. What most young adults don't realize is that even if they are in perfect health, a will should be written as soon as wealth is accumulated or a family is started - because if it is not, there is a chance that those you love may end up with nothing.
It is possible do purchase do-it-yourself will kits for $100 to $200. Unfortunately, every few weeks we get a phone call from some ill-fated individual who attempted to write their own will and either didn't understand it so the purchase was a waste or messed it up so bad that now it needs to be totally rewritten. Here at Magnuson Lowell, P.S., we can sit down with you and find out what is important in your life. We will take it upon ourselves to draft up all the necessary documents and help you with all of your estate planning needs.