Avoiding Probate

[Marty Bufalini]

Not sure where to post this, but I need advice on getting a will ready for my lawyer. (I’m in good health but thinking ahead.)

Do I take pictures of my machines and list serial numbers on the back? Record machine makes? Make a list of them with the above mentioned information? And what about the more valuable cylinders and records? Then give all to my lawyer?

He gave me a form to fill out but there isn’t room for all the stuff nor provisions for additions.

All four of my adult kids love the stuff and I want to make they get what they want.

And I’m only telling you about the phonographs, I still need to include the radios and antique cars.

How did you handle this?

[PeterF]

The package should include as much room for lists and descriptions and as many other particulars as you wish. I bet if you ask your attorney about it, she/he will tell you the same.

[JerryVan]

Marty,

From my very limited experience, I don't believe having a will necessarily avoids probate, but I believe a trust does. If I'm wrong, it will be the first time in months

[Marty Bufalini]

Ok then, trust

[PeterF]

It’s actually a whole package, with several elements:

- living trust
- pour-over will
- durable power of attorney
- medical power of attorney
- advance health care directive
- legacy letter (aka ethical will)

Here’s a summary.

[MikeB]

Having worked at public libraries for over 20 years, I can tell you that one of the most fundamental rules of librarianship is to never give legal advice. So that's what I am going to do here. But if you were a patron asking me that question, I would say that you should thoroughly write down all of your legal questions and concerns, then ask your attorney as much as you possibly can...

[Lah Ca]

A death with a will is very difficult and complicated for those left behind, but an intestate death is a near-insufferable, insanely complex, and painful burden Kudos for thinking ahead and caring about your family.

If you are not entirely satisfied with your lawyer, there are lots of others. Ones who specialised in family law and or wills are often better able to advise here than ones who have a more general practice.

[Rick E]

I have several non-legal comments.
1. If your 4 kids want some of the phonographs, work out with them now who gets what. Mark their names on the phonographs. As you get closer to the time that you want to part with the phonographs, gift them to your kids. You can gift $15,000 yearly to a person without having to file a gift tax form.
2. For insurance purposes, I made a brief description of each phonograph (serial numbers, condition, original vs replacement parts, likely current value) along with several photos. Steve Stanton provided an appraisal for insurance purposes. I gave this information to my kids and grandkids for when there comes a time that they have to disburse them.
3. For many paper items, books, records, and other small items, I indicated to my kids and grandkids any that had particular value. I put a gold star on the envelope or other container in which the more valuable item is stored. When all of these small items get disbursed, the kids should know which are important. Hopefully those items will not end up at in the trash or at Good Will.
Rick

[Marty Bufalini]

Thanks for all the responses. I’m not looking for legal advice. I just am curious what you may have done. I only want to get an idea of what to give to my lawyer so he can prepare the legal document


Thanks