Doing Will Myself

[JacKen]

I want to do my will myself by using a free form, complete and have notarized. I do not have much property, only great assetis my IRA and I do have life insurance. For both, I have already assigned beneficiaries to each.

Question 1: By me already designating beneficiaries to my IRA and Life insurance, is a will necessary for my beneficiaries to receive my life insurance and IRA? I have children, and their mother in both cases is the beneficiary.

Question 2: Since I don't have much property, is there any significant reason why I should not do the will myself, and have a lawyer do it instead? I am trying to save money which I am short on right now.

Thanks in advance for help

JK

 

[NY_Shark]

Writing a will is not hard if all you are doing is doling out property (ie not setting up a trust, etc). In NY, double check with HI, a will does not even need to be notarized. All you need is a declaration that this is your last will and testament and any other will is no longer valid, then say who gets what, then a residuary clause (the rest residue and remainder of my estate I bequeath to *whoever*), an affirmation clause, your signature, the date, and the signature of two witness. Will is done.

That said, If you are married, and your wife is your beneficiary for everything, and half the stuff you have is joint owned anyway, then you probably don't even need a will.

 

[JacKen]

Thank You for taking the time to respond. I appreciate the help. JK