Examples of how Wills work
These examples are intended to show how the different types of WILLS work in different situations. The family: George Jetson, his wife Jane Jetson and their children Judy and Elroy.
Let’s look at some different situations and how the Jetson’s could use this on-line will website.
Free simple will
Can only be used if there are no minor children.
If the Jetson children Judy and Elroy are both over 18.
With a FREE SIMPLE WILL George or Jane can leave a set share of their property to any person they choose.
1. George could leave 100% of his property to his wife Jane OR he could leave 50% to Jane, 25% to Judy and 25% to Elroy OR 60% to Jane and 40% to Elroy OR 100% to the Spacely Sprocket Foundation.
2. George could also choose to create a Health Care Power of Attorney for a fee of $40.00 and/or a General Durable Power of Attorney for a fee of $40.00.
3. Jane could leave 100% of her property to George OR she could leave 50% to George, 25% to Judy and 25% to Elroy OR 60% to George and 40% to Elroy OR 100% to the Spacely Sprocket Foundation.
Basic will
Single $170
Married $250
If the Jetson children Judy and Elroy are minors.
With a BASIC WILL George or Jane can establish a Trust for their minor children, name a Trustee, nominate a Guardian, leave a set share of their property to any person they choose. The BASIC WILL for a married couple leaves all property to the spouse if the spouse survives and then a set share of their property to any person they choose.
1. George and Jane could establish a Trust and name Mr. Spacely as the Trustee, nominate Rosie as the children’s Guardian and leave 50% to Judy and 50% to Elroy. Rosie would be responsible for the day to day care of Judy and Elroy. Mr. Spacely would be in charge of the property in the Trust, which could be used for the needs on Judy and Elroy until they are old enough to handle their own affairs.
2. George and Jane could establish a Trust and name Uncle Ed Jetson as the Trustee, nominate Uncle Ed as the children’s Guardian and leave 50% to Judy and 50% to Elroy. Uncle Ed would be responsible for the day to day care of Judy and Elroy and would be in charge of the property in the Trust, which could be used for the needs on Judy and Elroy until they are old enough to handle their own affairs.
3. If Judy was an adult and Elroy was a minor, George and Jane could establish a Trust and name Judy as the Trustee, nominate Judy as the Elroy’s Guardian and leave 50% to Judy and 50% to Elroy. Judy would be responsible for the day to day care of Elroy and be in charge of the property in the Trust, which could be used for the needs on Elroy until he is old enough to handle his own affairs.
4. George and Jane could also choose to create Health Care Powers of Attorney for a fee of $50.00 (one for each of them) and/or a General Durable Powers of Attorney for a fee of $50.00 (one for each of them).
If Jane was single and Judy and Elroy were minors.
5. Jane could establish a Trust and name Mr. Spacely as the Trustee, nominate Rosie as the children’s Guardian and leave 50% of her property to Judy and 50% to Elroy.
6. If Judy was an adult and Elroy was a minor, Jane could establish a Trust and name Judy as the Trustee, nominate Judy as the Elroy’s Guardian and leave 50% to Judy and 50% to Elroy. Judy would be responsible for the day to day care of Elroy and be in charge of the property in the Trust, which could be used for the needs on Elroy until he is old enough to handle his own affairs.
7. Jane could also choose to create a Health Care Power of Attorney for a fee of $40.00 and/or a General Durable Power of Attorney for a fee of $40.00.
Deluxe will
Single $300
Married $400
With a DELUXE WILL George or Jane can designate a specific gift to an individual beneficiary and do all of the things included in a BASIC WILL.
If the Jetson children, Judy and Elroy are minors.
1. George and Jane could give the timeshare in Arizona to Rosie, give the mineral rights on the section of land to Judy, give the house in Fargo to Elroy, establish a Trust and name Mr. Spacely as the Trustee, nominate Rosie as the children’s Guardian and leave 50% of their residuary estate to Judy and 50% of their residuary estate to Elroy. Rosie would be responsible for the day to day care of Judy and Elroy. Mr. Spacely would be in charge of the property in the Trust, which could be used for the needs on Judy and Elroy until they are old enough to handle their own affairs.
2. George and Jane could also choose to create Health Care Powers of Attorney for a fee of $50.00 (one for each of them) and/or a General Durable Powers of Attorney for a fee of $50.00 (one for each of them).
If Jane was single and Judy and Elroy were minors.
3. Jane could give the timeshare in Arizona to Rosie, give the mineral rights on the section of land to Judy, give the house in Fargo to Elroy establish a Trust and name Mr. Spacely as the Trustee, nominate Rosie as the children’s Guardian and leave 50% of her residuary property to Judy and 50% of her residuary property to Elroy.
4. Jane could also choose to create a Health Care Power of Attorney for a fee of $40.00 and/or a General Durable Power of Attorney for a fee of $40.00.
Complex will
Single or Married $750
A COMPLEX WILL covers any situation that does not fit into one of the other options. It is used when special circumstances require specially designed provisions to accomplish your wishes.
The COMPLEX WILL charge also includes both the Health Care Powers of Attorney and General Durable Powers of Attorney for no additional cost.