Why Get a Will?

A will is most important when one has children between the ages of 0 and 18, because a will is where you name a guardian for your children. But everyone needs a will because if you don’t have one, all of your assets and personal property will be divided up according to the laws of the state you are living in when you die, which for some people means that your young children will end up with more assets than your spouse!

Besides, everyone has something, even if it’s an old guitar or a sentimental necklace, that you’d prefer to give to someone specific.

Can I Make My Own Will?

You can, but you shouldn’t. For some people, online or over-the-counter software works alright. Whether you should use a lawyer depends on your personal circumstances and comfort level. But if you’re at all unsure, it’s probably worth paying for a professional. Actually, the introduction of do-it-yourself software has forced lawyers to dramatically lower their prices for these entry-level estate planning documents, so it’s well worth your investment to hire an attorney.

If you are naming a guardian for children hiring a lawyer is a must –software won’t talk to you about the important questions like a lawyer will. For example, let’s say you name your sister Sarah and her husband Bobby as guardians of your child. What if Sarah and Bobby get divorced – do you want the child to stay with Sarah, or Bobby? Okay, Sarah. Now say Sarah has passed away or become incapacitated. Do you want your child to stay with Bobby, who isn’t any relation to you at all, or move to another family member? This is not something you want to get wrong.

Others who should seek a professional help: Small-business owners, parents of children with special needs or couples where one partner is facing an illness like Alzheimer’s or who may have early signs of dementia.

Or maybe you’re remarried but still want to leave most of your assets to your children. This may also call for a lawyer’s assistance, since “disinheriting” a spouse can get tricky. You may want to invest in a prenuptial or post-nuptial agreement.

Do I Need More Than a Will?

Everyone should have documents in place that allow others to make decisions for you in case you become incapacitated. These documents are very inexpensive to have a lawyer prepare, and save your loved ones much heartache later on.

For medical matters, you need what we in California call an advance health care directive. A durable financial power of attorney gives someone legal authorization to handle your financial affairs when you can’t do so on your own.

Many people, including parents of young children and anyone who owns a home, should consider a living trust. Talk with a local attorney about the pros and cons of trusts and see if they work for you.

Where Should I Keep My Will?

I recommend my clients keep their important documents in a fireproof safe in their home or in a safe deposit box. A copy of your advance health care directive and power of attorney should be sent to your designated agent for those decisions so that they aren’t hunting for documents during a crisis.

Need more help or advice? Have more questions? Call San Diego attorney Daniel Printz anytime to schedule a free consultation: (858) 720-8250.

For cost and registration information, contact:
Jonathan Cook
National Business Institute
1218 McCann Drive
Altoona, WI 54720
(800) 909-7689
jonathan.cook@nbi-sems.com

A 33-hour course, Estates, Wills & Trusts covers such topics as the use of various estate planning methods and devices, including wills, trusts, durable powers of attorney, health care directives and beneficiary designations. The rules of intestate succession will be covered. Emphasis will be placed on planning tools and administration of estates.

The course is also designed to introduce the procedures and court proceedings required to manage probate and non-probate transfers in California. Students are required asked to prepare forms that are ordinarily required in formal California probate proceedings.

The course is taught Tuesday and Thursday evenings from October 6 through September 10th.

For more information, contact Mr. Printz at (858) 720-8250 or the University of San Diego Paralegal Program at (619) 260-4579.

The title of the seminar is Estate Administration Procedures: Why Each Step is Important. Along with Mr. Printz, faculty will include Janathan Allen of Allen Barron, sole practitioner Stuart Schechter, and Charles T. Scott of Kimball, Tirey & St. John.

The seminar will provide the following credits: California MCLE Paralegal; CFP for Financial Planners - 8.0; CLE for Attorneys- 6.75; CTEC for tax preparers- 8.0; IACET – 0.7; CPE for accountants/NASBA – 8.0; and PACE (CLU, CASL, ChFC) – 8.0

To register, call (800) 930-6182 or go to www.nbi-sems.com.

This is a basic level seminar, and provides fundamental estate administration topics for: attorneys; accountants; paralegals; trust officers; estate planners; and financial planners.

“San Diego-based estate planning lawyer Daniel Printz tells us the myriad of things to be aware of when drawing up a Will, especially in the areas of child guardianship and business succession. Some of the case studies may highlight unfortunate situations, but fortunately for you listeners this was one of our best, most informative interviews thus far. We highly recommend sharing it with your friends and family!”

For a Rocket Lawyer podcast, this interview was fairly long; 23 of the 32-minute podcast consisted of my interview.  Rocket Lawyer is focusing on April as “Make-a-Will Month,” and I couldn’t be happier to be a part of it. 

HERE IS A LINK TO THE PODCAST: 22 Ep 20_ A Series Of Unfortunate Events – Make A Will Edition

Wills are, after all, probably the best bang for the buck in the estate planning arena.  Because of competition from online services, attorneys have dropped their prices for attorney-drafted wills to the point where it has essentially become a loss-leader.

Even so, it’s a vital piece of estate planning package, especially for parents with minor children who need to designate a guardian of the person and a guardian of the estate. While almost everyone could benefit from more sophisticated estate planning than a will allows, it is certainly true that a will is better than  no planning at all!

Wills with guardianship provisions for minor children can usually be drafted and executed in a single day. If you’re interested in finding out about our low prices for simple wills, give us a call right now at (858) 720-8250 – just ask for Daniel.

If it’s absolutely essential, a guardian can be removed by the Court for any of the following reasons, per the probate code:

(a) Failure to use ordinary care and diligence in the management of the estate.
(b) Failure to file an inventory or an account within the time allowed by law or by court order.
(c) Continued failure to perform duties or incapacity to perform duties suitably.
(d) Conviction of a felony, whether before or after appointment as guardian or conservator.
(e) Gross immorality.
(f) Having such an interest adverse to the faithful performance of duties that there is an unreasonable risk that the guardian or conservator will fail faithfully to perform duties.
(g) In the case of a guardian of the person or a conservator of the person, acting in violation of any provision of Probate Code Section 2356 (placing the minor in a mental health ward against their will, sterilizing them, etc.).

To request the removal, you will need to file a petition in the proper probate court. While an attorney is not a requirement, it is strongly recommended.  Call the Law Office of Daniel K. Printz at (858) 740-4370 for more information.

In her article on MSN.com’s MoneyCentral, Karen Hube cites postponing estate planning as one of “New Parents’ Top 10 Money Mistakes.” In her online “Wills and Trusts Special”, financial guru Suze Orman states: “If you cannot agree on guardianship for your child, you will be leaving that decision to the state. The state will assign someone to care for your child. Be smart and make that decision before it is too late.”

Advice on how to choose and nominate guardians for your children will be just part of Mr. Printz and Ms. Barron’s 2-hour seminar and workshop. Mr. Printz will discuss the questions most often raised by new parents: Who do I nominate as my child’s guardian? Should that person also control her money? Can my children stay in the family home, or will they be relocated? Ms. Barron will discuss educational financing, 529’s, and UTMA accounts.

Mr. Printz has been an attorney for the past ten years, since graduating in 1999 from San Diego’s Thomas Jefferson School of Law in Old Town. The Law Office of Daniel K. Printz is located at 5631 Palmer Way, Ste. C, Carlsbad, CA 92010. Mr. Printz specializes in estate planning and probate, and for the past three years he has taught “Estates, Wills and Trusts” in the University of San Diego’s intensive paralegal program. Mr. Printz, his wife Erica, and their 2 ½ year old son Samuel live in the Old Creek neighborhood of San Marcos, just west of San Elijo Hills. Mr. Printz can be contacted at (858) 740-4370 or by email at daniel@TheLegacyLawyer.com.

March 23, 2010 at the Hilton San Diego Gaslamp Quarter: 401 K Street, San Diego, CA 92101. (619) 231-4040. 

9:00 A.M. – 4:30 P.M.

This is an intermediate level seminar designed for those specializing in estate planning and administration. Seminar led by: Meredith G. Alcock, Esq.; Audrey J. Grossman, Esq.; David P. Jones II, Esq.; and, Daniel K. Printz, Esq.

6.0 units of CLE for Attorneys and Paralegals. 6.0 units of specialization in the area of estate planning for the California Board of Legal Specialization.

Cost: $339 first attendee; $329 each additional. Audio Recording: $339. Manual only: $99. CD and Manual only: $199.

Enroll at: http://www.thelegacylawyer.com/first

Speaker Daniel K. Printz, Esq., teaches “Estates, Wills and Trusts’ in the University of San Diego’s intensive paralegal program. He will speak on the essentials of estate planning for young families at this seminar – free for Parent Connection members and $10 for non-members.

Wednesday, January 27, 2010. 6:30 p.m. to 8:00 p.m.  Scripps Coastal Medical Center. 2176 Salk Avenue, Carlsbad, CA 92008.  South Entrance.

To register, use this link and find our seminar “Wills and Trusts” through the pull-down menu: http://www.sandiegoparent.com/TPC/event/signup.html

Life insurance is a fantastic tool for these families.  While they remain relatively young and healthy, life insurance can be inexpensive and easy to qualify for.

I recommend obtaining life insurance sufficient to care for your spouse and children for a period of two years without that spouse working.  It’s difficult to overstate the debilitating effect the grieving process can have on a young family.  For two years, free your spouse from the need to (1) work to pay bills and (2) obtain and pay for outside child care.  By obtaining a term life policy for $500,000, $1 million, or even $2 million, a young parent can make sure that their spouse and children are well cared for while they recover.

Please understand – I don’t sell life insurance and I make no money off referrals to life insurance agents.  I’ve just seen how limited assets can compound the devastation of a young person’s sudden death.

Another type of insurance to consider while you’re young is long-term care and disability insurance, to cover events that disable a parent without causing death.

If you can’t decide what type of insurance you might need, or the levels needed, call the Law Office of Daniel K. Printz, or a local life insurance specialist!