Need a QUICK will done prior to flying -- HELP!

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acura301
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Need a QUICK will done prior to flying -- HELP!

Post by acura301 » Mon Oct 10, 2016 12:43 am

Ladies and Gents,
I have an appointment set up in November with an attorney that I know to do our will and other documents. My wife, myself, and my daughter (age 2.5) are traveling via plane in a few weeks to Colorado. This is obviously statistically improbable, but what will happen if all three of us are in a plane crash? My parents are deceased, my brother is deceased, my grandparents are deceased. We live in Maryland. In the case of my wife and I dying, we would, of course, want everything to go to our daughter, with the child's maternal grandfather (or my brother-in-law) to manage her estate. In the event of all three of us dying (like in a plane crash) we would like to leave the bulk of our assets with my brother-in-law, with small amounts going to the few remaining family members I have left. What's the best way to create a quick will online to cover this unlikely eventuality? Quicken Willmaker? Mind you, the long term plan IS to meet with a Maryland attorney I know and get a more professional will done in November. I just don't want all three of us being in a situation where we could all three die and nothing covering this potential situation. Thanks.

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Nearing_Destination
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Re: Need a QUICK will done prior to flying -- HELP!

Post by Nearing_Destination » Mon Oct 10, 2016 1:10 am

Whatever you do... don't drive to the airport as you're MUCH more likely to be killed in a car crash (what have you done to mitigate that risk before driving to, or for, work?)

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celia
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Re: Need a QUICK will done prior to flying -- HELP!

Post by celia » Mon Oct 10, 2016 2:15 am

If EACH of you takes a different flight, the odds of all of you dying are slim to none. In fact only you and your spouse only need to take different flights and one of you take the daughter with him/her. I heard of a family who liked to travel this way to "insure" the kids wouldn't be orphaned (both parents die).

In fact, your estate will likely have the most problems on your unlikely demise this month if your will is drawn up quickly (ie, hurriedly, under stress).

tim1999
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Re: Need a QUICK will done prior to flying -- HELP!

Post by tim1999 » Mon Oct 10, 2016 6:16 am

You are more likely to die in a car crash on the way to the airport but perhaps check out www.nolo.com

bsteiner
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Re: Need a QUICK will done prior to flying -- HELP!

Post by bsteiner » Mon Oct 10, 2016 6:41 am

A few weeks should be more than enough time. Switch your meeting to today.

traveltoomuch
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Re: Need a QUICK will done prior to flying -- HELP!

Post by traveltoomuch » Mon Oct 10, 2016 6:48 am

acura301 wrote: This is obviously statistically improbable, but what will happen if all three of us are in a plane crash?

Statistically, most of you survive. (90% according to this.)

Of course, 90% of 3 people is only 2.7. By the numbers, someone's going to be rather incomplete, but it should make for a good article in a medical journal.

acura301 wrote:I just don't want all three of us being in a situation where we could all three die and nothing covering this potential situation.

You already are. A single trip next month does not change that fact.

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nisiprius
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Re: Need a QUICK will done prior to flying -- HELP!

Post by nisiprius » Mon Oct 10, 2016 6:58 am

Step 1 is to call your lawyer and ask if he can get it done before the flight. Nothing to lose by asking.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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HueyLD
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Re: Need a QUICK will done prior to flying -- HELP!

Post by HueyLD » Mon Oct 10, 2016 7:07 am

Call up your attorney and offer him/her double price to get it done in a couple of week. The attorney may be willing to squeeze you in with such an incentive.

BlueFin
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Re: Need a QUICK will done prior to flying -- HELP!

Post by BlueFin » Mon Oct 10, 2016 8:28 am

You're more likely to need a will driving to the airport than when you're flying.

4th and Inches
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Re: Need a QUICK will done prior to flying -- HELP!

Post by 4th and Inches » Mon Oct 10, 2016 8:32 am

Is this original post a joke?

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nisiprius
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Re: Need a QUICK will done prior to flying -- HELP!

Post by nisiprius » Mon Oct 10, 2016 8:32 am

HueyLD wrote:Call up your attorney and offer him/her double price to get it done in a couple of week. The attorney may be willing to squeeze you in with such an incentive.
My recollection is that my lawyer got it done in about a week without any incentives. Local lawyer, small town, storefront with a gold-leaf-scales-of-justice decal, and an "I-love-you-honey" will, of course.
4th and Inches wrote:Is this original post a joke?

I don't have a problem with a plane flight as motivation. We all need wills but there's always something that tips us into action. I once did some calculations and while it's true that the risk per mile is low for commercial airline flights, the risk per hour is not--especially if you take into account that most of the risk is concentrated into takeoffs and landings. So my view is that a perfectly rational person would always fly but always be nervous about it. Even if a plane flight is not statistically risky, it can be the thing that makes you realize that stuff actually could happen.

I think older readers can confirm this: before about the 1970s or so, airports always featured coin-operated vending machines that dispensed life insurance policies. I don't remember what they covered, I think it was only accidental death, and perhaps dead caused by a plane accident, and they were good for perhaps two weeks? My recollection is that it took six or seven quarters in the slot to buy the policy. It was only after a few cases of people buying policies and then committing suicide by bring bombs onto planes that they outlawed them (along with outlawing coin-operated lockers in airports). Such an event was a plot element in Alex Haley's 1968 bestselling book, Airport, and in the movie of the same name (the real one, not the parody Airplane!). Even then, the risk per mile was much higher for driving than for flying. Flying was more dangerous, but so was driving. (No airbags. No seatbelts. No padding. Projecting metal bits everywhere. And a steering column capable of spearing a driver through the chest).

Oh, the Internet is great. A $62,500 policy for ten quarters.
What was an insurance vending machine at an airport?
Image
Last edited by nisiprius on Mon Oct 10, 2016 8:56 am, edited 5 times in total.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

RudyS
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Re: Need a QUICK will done prior to flying -- HELP!

Post by RudyS » Mon Oct 10, 2016 8:35 am

celia wrote:If EACH of you takes a different flight, the odds of all of you dying are slim to none. In fact only you and your spouse only need to take different flights and one of you take the daughter with him/her. I heard of a family who liked to travel this way to "insure" the kids wouldn't be orphaned (both parents die).

In fact, your estate will likely have the most problems on your unlikely demise this month if your will is drawn up quickly (ie, hurriedly, under stress).


I bet tickets are already purchased. Statistics aside, I'd say just used the nolo.com site. You'll have peace of mind, and the "real" will drawn up later by your attorney will replace whatever this turns out to be.

Dulocracy
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Re: Need a QUICK will done prior to flying -- HELP!

Post by Dulocracy » Mon Oct 10, 2016 9:32 am

4th and Inches wrote:Is this original post a joke?


Probably not. I get a lot of clients that come in before trips to get affairs in order. Of course, usually it is when they plan the trip and not right before. OP may have to pay a rush fee with short notice (or not... does not hurt to ask).
I'm not a financial professional. Post is info only & not legal advice. No attorney-client relationship exists with reader. Scrutinize my ideas as if you spoke with a guy at a bar. I may be wrong.

bsteiner
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Re: Need a QUICK will done prior to flying -- HELP!

Post by bsteiner » Mon Oct 10, 2016 9:34 am

A few weeks is ample time. Switch your appointment to today.

3easypayments
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Re: Need a QUICK will done prior to flying -- HELP!

Post by 3easypayments » Mon Oct 10, 2016 12:32 pm

Download Quicken Willmaker ($55 for 2017 version or $35 for 2016 version) and you'll be done in about 20 minutes. Print it out, have 2 friends not in the will sign it, and leave it where it will be found.

Maryland doesn't require a notary or a lawyer to write down for you who should get what when you die.

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David Jay
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Re: Need a QUICK will done prior to flying -- HELP!

Post by David Jay » Mon Oct 10, 2016 12:59 pm

Nearing_Destination wrote:Whatever you do... don't drive to the airport as you're MUCH more likely to be killed in a car crash (what have you done to mitigate that risk before driving to, or for, work?)


...and the bathtub. Serious hazard!

[edit] This is not a joke, statistics show that death is far more likely to be caused by a fall in the tub than flying on a commercial airliner.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

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David Jay
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Re: Need a QUICK will done prior to flying -- HELP!

Post by David Jay » Mon Oct 10, 2016 1:22 pm

nisiprius wrote:...the risk per hour is not--especially if you take into account that most of the risk is concentrated into takeoffs and landings.


Your data is a bit old, airline safety has improved greatly since, say, the 1980s or 1990s. There is hardly a safer place today than in a scheduled airliner within the United States, the current fatality rate is one every 12.5 million flight hours. Many years we go the entire year in the US without a single fatality.

Almost any active endevour (and more than a few passive ones!) is more dangerous.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

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CABob
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Re: Need a QUICK will done prior to flying -- HELP!

Post by CABob » Mon Oct 10, 2016 1:24 pm

How about a holographic will?
Bob

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HomerJ
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Re: Need a QUICK will done prior to flying -- HELP!

Post by HomerJ » Mon Oct 10, 2016 1:34 pm

3easypayments wrote:Download Quicken Willmaker ($55 for 2017 version or $35 for 2016 version)


What could they possibly update each year?

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HomerJ
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Re: Need a QUICK will done prior to flying -- HELP!

Post by HomerJ » Mon Oct 10, 2016 1:36 pm

David Jay wrote:
Nearing_Destination wrote:Whatever you do... don't drive to the airport as you're MUCH more likely to be killed in a car crash (what have you done to mitigate that risk before driving to, or for, work?)


...and the bathtub. Serious hazard!

[edit] This is not a joke, statistics show that death is far more likely to be caused by a fall in the tub than flying on a commercial airliner.


Pretty tough for all three members of the family to die at the same moment in a bathtub accident though.

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David Jay
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Re: Need a QUICK will done prior to flying -- HELP!

Post by David Jay » Mon Oct 10, 2016 1:54 pm

HomerJ wrote:
David Jay wrote:
Nearing_Destination wrote:Whatever you do... don't drive to the airport as you're MUCH more likely to be killed in a car crash (what have you done to mitigate that risk before driving to, or for, work?)


...and the bathtub. Serious hazard!

[edit] This is not a joke, statistics show that death is far more likely to be caused by a fall in the tub than flying on a commercial airliner.


Pretty tough for all three members of the family to die at the same moment in a bathtub accident though.


Nice...
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

3easypayments
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Re: Need a QUICK will done prior to flying -- HELP!

Post by 3easypayments » Mon Oct 10, 2016 1:56 pm

HomerJ wrote:
3easypayments wrote:Download Quicken Willmaker ($55 for 2017 version or $35 for 2016 version)


What could they possibly update each year?

The price!

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Meg77
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Re: Need a QUICK will done prior to flying -- HELP!

Post by Meg77 » Mon Oct 10, 2016 2:07 pm

If you were to all three die today, your assets would probably be split between your wife's siblings and her parents. If you and you wife were both to die but your child survived you, the child would probably inherit everything, but one of your wife's relatives would be appointed as custodian of the assets until she reaches the legal age to take over in Maryland (usually 18 but not always).

I don't know Maryland law and am not an attorney, but in Texas if you die intestate your estate is divided between parents and siblings if you are unmarried. There are complex charts to show how it will be divided if you were married and your spouse dies with you, but the bottom line is that a probate judge will decide what's fair based on the guidelines issued in Maryland.
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