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To: JD86
Have a handwritten will at a bare minimum witnessed by two people. Make sure you include that this will is meant to follow all the rules of the state you are in.

On the bank accounts it would have been good to already had beneficiary down as whoever you have your money going to. If you plan to pay for your burial, have all the arrangements pre-purchased or at the very least have a trusted relative on an account of yours where they have access to monies needed to bury you.

I think you can leave an estate of almost $600,000 without tax today.

Then on another paper put down where everything is account wise or the family will have to wait for statements to come in.

214 posted on 12/06/2001 9:42:45 PM PST by A CA Guy
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Here's a thought: Why have so many different bank accounts and brokerage accounts and such?

I think it'd be worthwhile to simplify things as much as possible.

215 posted on 12/06/2001 9:45:45 PM PST by Tony in Hawaii
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To: A CA Guy
Have a handwritten will at a bare minimum witnessed by two people.

My mom had a will witnessed by two people but it was invalid. It didn't turn out to be a big deal since she hadn't been married in 15 years and my brother and I were the only logical beneficiaries. I basically had to sign away all my rights so my brother could become the Adminstrator of the Estate(when there is no will the position is not called Executor) he then had all the power to divide the estate however he wanted. But we're on good terms and he divided it 50/50, no big deal.

But I learned during that process that there is 4 things a valid will must contain, the lack of any one of which will invalidate it. It must be:

My mom neglected to notarize her will and that is what invalidated it.
226 posted on 12/06/2001 10:14:45 PM PST by ICU812
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To: A CA Guy
No, it is higher than that ( I've forgotten exactly how much, but sibstancially ) , and a husband and wife can each leave the total amount to their heir /s , so it is DOUBLE whatever it is. Yes, even IF one spouse's demise predates the other's by many years. Check with your lawyer / estate planner !
227 posted on 12/06/2001 10:15:00 PM PST by nopardons
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To: A CA Guy
I think you can leave an estate of almost $600,000 without tax today.

Used to be $600,000 but congress passed a law incrementally increasing it to $1M. This year, it's probably in the $800,000 vicinity.

230 posted on 12/06/2001 10:23:37 PM PST by Gracey
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