Is a Will Best For Us?

We have a small estate with revenue mostly from a military pension and social security. We have a house "under water" and do not own any real estate other then the house. No stocks or bonds and only a small life insurance policy. We own two small savings accounts and two normal checking accounts with total around $10,000 for all four.

We have a will describing assets distribution. From what I read on this web site it is best for probate. Do you agree?

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Feb 28, 2012
A will is likely best
by: Mo Johnson

Hi, of course I can't give you specific legal advice as I don't know all your issues or the state law of your locality -- but as discussed at wills vs living trusts -- given the value of your assets, a will probably makes the most sense. It could be that your entire estate will be able to be handled simply through a streamlined process for small estates -- that depends on the law of your state. There is also much you can do with your assets to make them nonprobate assets anyway.

So, odds are good that a will is sufficient for you. But, of course, you may want to discuss it with a local estate planning attorney.

All the best!

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