Top Ten Legal Myths in Estate Planning
- My children know what I want to happen after my death so I do not need a will.
- If I have a will my estate will not go through probate.
- If you are married you don’t need a will because your spouse will inherit everything.
- It is best to name all my children as personal representatives in my will and as agents in my power of attorney so that none of them feel left out.
- I do not need an attorney to help me write my will, it is a simple document and there are lots of forms online.
- Signing a quitclaim deed adding my children on the title to my house is a good idea.
- Placing my children’s names on my bank accounts is the best way to transfer my bank accounts at my death.
- Probate in Colorado is awfully expensive and takes a long time.
- I do not have anything so I don’t need a will.
- The agent in my power of attorney oversees my affairs after my death.
If you believe any of these things to be true, please call my office to set an appointment to speak with me.
This article was written by Tamra K Waltemath of Tamra K. Waltemath, P.C. This information is for general informational purposes only and does not constitute legal advice. For specific questions, you should consult a qualified attorney. Tamra K. Waltemath is an elder law attorney focusing on wills, trusts, estate and trust administration, probate and non-probate transfers, guardianships and conservatorships. She can be contacted at: Tamra K. Waltemath, P.C., 3843 West 73rd Avenue, Westminster, CO 80030; 303-657-0360; or visit her website at: www.WaltemathLawOffice.com.