Why should you write a will even if you are 18 years old …

writing a will

Most of us don’t want to think about dying. It’s not only the old that die. The news is full of stories about unexpected deaths – a pile up on the highway, climbing and skiing accidents, drownings and etc.

Anyone over the age of 18 years and of sound mind should have a valid and up-to-date will. If you die without making a will, everything you own will be distributed according to the law in your State – which means your wishes will be ignored.

Having a valid and up-to-date will should be a central part of your generational planning strategy. This applies irrespective of the size of your estate or how you wish it to be distributed.

While there is no limit on the time that a will remains valid, a review every 3-4 years is recommended.

It is important that reviews are also conducted whenever your circumstances change, if you decide to alter your beneficiaries or if you buy or sell an asset.

Some people think that making a will is something you do once and can then forget about. For most of us, nothing could be further from the truth. The only thing that can be worse than not having a will, is having a will which is no longer relevant to your circumstances.

So what happens if I don’t have a will?

Anyone who passes away without a will is said to have died ‘intestate‘. In such cases the assets belonging to the deceased are distributed according to State law. It is possible that such laws will not be consistent with your wishes and consequently those who you wish to benefit from your estate might not do so.

The law is based on what is likely to be suitable distribution of your assets – and this might work for some people. However, it may be unsuitable to you and your loved ones in some circumstances. For example:

  • If you are in a de facto relationship then, depending on the length of that relationship, your partner may not be provided for adequately.
  • If you have been divorced and then remarried, your new spouse, or their own family, may benefit from assets you might want to pass on to children of your previous relationship.
  • Your property might go to an estranged relative, or to wealthy relatives who do not need your assets.
  • You are concerned about an intended beneficiary’s ability to preserve and manage their inheritance.
  • In some States, if you have no close relatives your property will be given to the government.
  • Muslims usually wants their wealth to be distributed according to their religion regulations, and hence -as a Muslim- dying without a will that describe how Islam religion controls the distribution of your wealth will result in ignorance of these regulations and follow the state laws.

It’s unfortunate how many people believe that estate planning is only for wealthy people. People at all economic levels benefit from an estate plan. Upon death, an estate plan legally protects and distributes property based on your wishes and the needs of your family and/or survivors with as little tax as possible.

A will is the most practical first step in estate planning; it makes clear how you want your property to be distributed after you die.

It may help to get legal advice when writing a will, particularly when it comes to understanding all the rules of the estate disposition process in your state. Some states, for instance, have community-property laws that entitle your surviving spouse to keep half of your wealth after you die no matter what percentage you leave him or her. Fees for the execution of a will vary according to its complexity.

Most of people might postpone their will preparation because of the high cost of attorney or the legal advice. At average it will cost between 400$ to 800$, and it will cost that much every time you want to update it …!

At legalshield we provide you, a will preparation, and annual reviews and updates for you, your spouse, and covered family members and other more valuable services for only 20$ per month …!

Legalshield believes everyone deserves legal protection. And for over 40 years, Legalshield has been providing members with affordable attorney access for low monthly premium. LegalShield currently protecting and serving over 1.4 million families across USA and Canada.

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Have you ever been in these situations !!!.

funny-policemen

Have you ever been in these situations … Been treated unfairly, Tried to return a defective product, Received a traffic ticket, Been audited by IRS, Been overcharged for a repair, lost a 20$ shirt in a dry cleaner, Lost a security deposit, Signed a contract, Purchase a home, Prepared a will.

all of us face such a kind of situations at least 3 to 5 times, may be more every year. In some cases we need to hire a lawyer, in other cases, it does not worth. Because the lawyers’ rate would be higher than the money we may return from the situation !.

In a previous article i have talked about the legal needs of American families.

If you want to change your mobile operator, you would probably do about 10 to 20 phone calls to finish that, and mostly they will go with you in a long argument till you lost mind and decide to back off your decision. Imagine having a lawyer who would talk to them and send them a letter. You would probably finish that in two days and with only one phone call.

Imagine having a speeding ticket, you will pay the fine, got some points, may have a suspension, and definitely your insurance will increase. If you have a lawyer, he would dismiss your points, and hence protect you from the insurance increase.

Many times we have arguments with insurance companies about coverage. If you have a lawyer, they will not debate with you anymore.

we all -many times- need to have some legal muscle, we all need to act like rich people, we all need to have a lawyer on demand, just to pick up the phone and get consulted bout any thing or get some muscle. …

Imagine having a lawyer for you and your family, that would give you the following services for a FLAT MONTHLY FEE. this way no matter how you use the service, you will pay only the monthly fee.

  • Unlimited telephone consultation
  • Write letters and make phone calls of your behalf to help produce results in certain situations
  • Before you sign anything, the lawyer will review it first and give you his comments
  • Prepare your last will and testament for you and your spouse. it probably charges 500$ to 1000$
  • Have access to the lawyer 24/7 in the event of an emergency such as being arrested or detained

Think about having a specialized attorney for each case you face who would give you the above mentioned services. how much you think it costs?! please leave your answer in the comments.

what if i told you that it is only 50 cent per day or 20$ per month. LegalShield provides you a legal insurance service, most of us have never heard about legal insurance. Think about the Return of investment ROI. How much you going to spend to have your will, how much you going to spend on insurance if you always get tickets. how much you face some annoying situation and you wish to have some muscle to deal with it in the right way. How much you going to spend per year to cover all those issues, and much you going to spend on yearly legal plans. It is not even the cost of  a one hour consultation of an attorney !!!. … Think about it and decide.

Check out LegalShield Legal plan services…

 

The Legal Needs of American Families

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A report Titled “the legal needs of American families” was published recently this month by LegalShield. i tried my best to sum up the report. You can access the report here.

First of all, LegalShield could be the largest attorneys network in north America serving more than 1.4 million families across USA and Canada. Established in 1972.

The study shows that about 57 million Americans experienced at least one significant legal event in the past 12 months, but only 60% of them sought out the services of a lawyer to help them !.
More than 66% of respondents said that they had to take at least one day off from work in the past year in order to deal with a legal issue.

The study also shows that the top 25 legal issues identified are:

 Top 25 legal issues identified
  • Automobile accident
  • Execution of a contract
  • Secured a home mortgage/ refinanced home
  • Divorce
  • Speeding ticket or traffic violation
  • Prepared a will
  • Marriage
  • Leased an apartment or home
  • Set up a trust
  • Became executor of parents’ estate
  • Was subpoenaed
  • Vehicle damaged while parked  on street
  • Sold faulty merchandise
  • Identity Theft
  • Inherited property
  • Filed bankruptcy
  • Friend who owes you money  files for bankruptcy
  • Injured someone accidentally
  • Leased a vehicle
  • Challenged a will
  • Creditor taking legal action
  • Adoption of a child
  • Property was damaged while  in storage
  • Dog bit someone
  • A tenant sued you

Also read … Have you ever been in these Legal situations.

The lawyer is generally a problem

  • 93% of respondents believe lawyers charge too much.
  • Respondents paid an average hourly rate of 284$. 25% of respondents paid more than 400$ per hour.
  • 72% believe that lawyers are difficult to reach by phone.
  • Americans have a difficult time finding a qualified lawyer to help them, 67% reported that they didn’t know a lawyer to call prior to needing one, the remainder said they found an attorney by online search or from a yellow pages
10 critical issues faced without an attorney
  • IRS audit
  • Divorce
  • Automobile accident
  • Spouse died without a will
  • Arrested or detained by police
  • Adoption of a child
  • DWI or DUI
  • Identity theft
  • Bought or refinanced home
  • Unjustified property repossession

Despite of facing legal issues on a regular basis, but few of Americans where proactive in taking steps to get legal protection. as mentioned above, the reasons were about the cost, the difficulties in reaching a lawyer in a proper time.

But more than 60% of respondents said that they are willing to buy a legal protection plan if it is presented as an insurance through small payments. the percentage exceeded 70% when the employer offers to cover 50/50 of the legal protection plan.

70% of respondents with a legal benefit plan said, they use the service more than 3 times per year

Worry Less, Live more

Legalshield removes the barriers of cost, confusion, and trust in accessing a legal help we need. Legalshield empowers its member by giving them uncomplicated and affordable access to the legal assistance they need to protect themselves and their families.

for less than 20$ per month (less than 60 cent per day), you get access to a network of specialized attorneys that covers most of your periodical legal needs.

Legalshiled now provides its service for more than 1.4 million families across north America, and more than 34000 companies.

to Protect yourself and your family through a Legalshield legal protection plan, you can enroll online and have your legal benefit within few minutes

enroll online