Will & Estate Planning Inventory Kit

Frequently Asked Questions about this Estate Planning Tool

1. By purchasing and completing the Will and Estate Planning Inventory Kit will it serve as a legally drawn and executed will or last will and testament?

No. The Will and Estate Planning Inventory Kit does not, in any way, take the place of a legally constituted will. It is an estate planning tool that allows you, your loved ones, and the executors of your legal affairs to record important information about your personal affairs, belongings, and assets.

2. Do I still need a will?

Yes, everyone – women or men, married or single, divorced, separated, those in common-law relationships, or those in a same-sex marriage – should have a will. One’s own lawyer, solicitor, or attorney can help with this important task and will, upon request, advise in advance of his/her fee(s). Also, there are numerous, reasonably priced, self-administered will kits (complete with instructions), some on disk, available through office supply and computer stores, better known book stores as well as some pharmacies, depending on your location. As well, there are self-help documents available via the Internet, check out the links section for a complete list.

3. Is this estate planning tool a legal document?

If by ‘legal’ you mean was it composed by a practicing lawyer, solicitor, barrister, or attorney, a member of the judiciary or para-legal, the answer is ‘no’. However, it was authored by a retired (non-lawyer) bar association Executive Director with considerable experience working with a wide variety of lawyers specializing and practicing in all areas of law. Nevertheless, since the Will and Estate Planning Inventory per se is designed to be used by individuals for the purpose of guiding caregivers, survivors, executors, lawyers or other designated person in their efforts to settle an estate, it is ‘legal’ for that specific purpose.

4. Can I use this estate planning tool anywhere in the world?

By all means, the Will and Estate Planning Inventory Kit is not a legal contract per se, but rather a map or checklist of your estate, recording for your family and attorney the location of all of your important papers, financical records, assets, and personal belongings.

5. Isn’t the information covered in the Will and Estate Planning Inventory Kit also laid out in my will?

To some extent it may be, however most of the information entered in the Will and Estate Planning Inventory document deals with the location of numerous documents, information and specific details not generally included in a will. The information recorded in the Will and Estate Planning Inventory is important and needs to support all aspects of administering and executing the provisions of the will.

6. Are there any legal fees required to complete this document?

The Will and Estate Planning Inventory document was designed to be simple to follow and complete. The very nature of the document dictates its completion by the individual to whom it pertains since no one else would know, or have access, to the information required. Therefore, no ‘legal’ fees per se are involved or anticipated. The only financial requirement connected with this estate planning document is the modest purchase price that is payable through PayPal.

7. Where should I keep the Will and Estate Planning Inventory?

Once the document has been purchased and completed, it is to be put in an envelope and sealed by the person filling out the document. The special instructions (provided with the document) are to be glued or firmly affixed over the seal of an envelope and then given to your spouse, one of your adult children, your executor, a close and trusted friend or your lawyer, solicitor, barrister or attorney.

8. How much would it cost to have a lawyer draw up a document such as this?

Since lawyer’s fees vary to a considerable degree, dependent on their experience, affiliation with a law firm, law societies/associations guidelines, location/country in which practising, etc., there is not a “standard” fee by a lawyer, but it has been estimated that a document such as the Will and Estate Planning Inventory, if developed by a lawyer, would cost in the neighbourhood of US $300 - $500.

The results of not making a proper will are many; the results of failing to organize and detail personal data and information – separately from the will – may very well leave someone in a precarious state should they suddenly become incapacitated and dependent upon others to care for them and carry on their personal business, just as it could seriously affect their estate and leave their loved ones in fiscal and legal jeopardy. The Will and Estate Planning Inventory is an inexpensive way to prevent such a situation from happening and to assure peace of mind.

There is no better time than now to record the whereabouts of all vital documents, all personal information as well as all valuable and personal items, revealing their location(s) to either a member of the family, a lawyer or an executor. Because none of us can tell when an emergency or tragedy may strike, people should take the time – now, without further delay – to make sure this kind of information can be located and made available to the proper designated individual whenever it becomes necessary.

Once the Will and Estate Planning Inventory kit is purchased through PayPal (click on the box below) it will be released without delay so that the purchaser can immediately print their own personal copy and set about filling in and completing all of the required information.

Except for a properly executed will, the Will and Estate Planning Inventory is one of the most important, even the most critical, documents any individual can prepare for the future help of their survivors and peace of mind.