Does my situation merit a will?

[tiffany85]

I haven't created a will. But I hear it's cheap and protects your belongings from going into probate. The reason I haven't yet is because my situation is pretty simple:

I have a few bank accounts and investment accounts - all have at least 2 beneficiaries.

As far as physical assets, I have a car worth $2,500 and maybe $1,000 worth of belongings. Maybe. I've always rented furnished places so that $1k is just for bicycle, laptop, tiny misc. crap.

So should I get a will? If so, legalzoom or similar? I love doing stuff online.

[myrdale]

Some people will say everyone should have a will. They are easy and cheap enough, that said I still don't have one.

I think the breaking point for me is once you have a wife and kids and house. At that point it would be useful to have everything laid out.

Until then, worrying about who will get my stuff, I wouldn't loose alot of sleep over.

[Petunia 100]

A will does not supersede designated account beneficiaries. Your bank and investment accounts will go to your designated beneficiaries regardless of any will.

For a 2.5k car and 1k of miscellaneous personal items, I don't see much need for a will. Certainly not one you paid to have drawn up, at any rate. If you want to use some fill-in-the-blank forms and create your own, that seems reasonable.

[Bob B.]

As a point of clarification, a will doesn't mean your estate wouldn't go through the probate process. The will gives the probate court a clear understanding of how you wish your assets to be distributed upon your death. So a will can speed up, and smooth the course of the probate process.

I agree that with no children, or real estate, there's no burning reason to get a will. There's also no reason to not get a simple, inexpensive will drawn up. But in my case, DW and I didn't have a will prepared until after our first child was born.

[disneysteve]

If you want to use some fill-in-the-blank forms and create your own, that seems reasonable.

There's also no reason to not get a simple, inexpensive will drawn up.

I agree. Make a will. Just don't spend a bunch of money to do it. There is no downside to having one. There are only downsides to not having one.

[tiffany85]

As a point of clarification, a will doesn't mean your estate wouldn't go through the probate process. The will gives the probate court a clear understanding of how you wish your assets to be distributed upon your death. So a will can speed up, and smooth the course of the probate process.

I agree that with no children, or real estate, there's no burning reason to get a will. There's also no reason to not get a simple, inexpensive will drawn up. But in my case, DW and I didn't have a will prepared until after our first child was born.

So my assets could still be made public record even if I have a will?