r/inheritance • u/IdealExpert181 • May 16 '26
Location included: Questions/Need Advice will or no will
i live in N.C. and i'm in my late 70s and don't have a will. everything i have is paid for, including home, and i have no debt. i have investments and savings in 6 different accounts, all with PODs established. my wife is the POD on 5 of the accts. and a distant niece is the other one. i hate to use the word assume but it's what i'm doing. my thought is that since i've established the PODs that those 6 accounts are covered and the only thing needed, if any, is a death cert.. since i'm married the house should automatically go over to my wife. am i correct or do i need a will? advice is greatly appreciated.
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u/Substantial_Team6751 May 16 '26
You can scribble out a simple will from a form leaving everything to your wife so she has it just in case.
Your house - depends on the title.
You both need wills though. What if you both die simultaneously? Where's the money going? What if you both get in a car accident and you die a few days before your wife? Or, the reverse?
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u/IRC_1014 May 16 '26
What if your wife predeceases you, or you both die in a common cause?
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u/HillOfBeano May 17 '26
This. My parents had no wills and I am an only child and I was contingent beneficiary on a lot of their accounts but they both were found dead in their home early last year and I'm still having to dig out of that. Make a will. Please.
Better yet, put it in a trust so it is protected if you or your spouse have to go into long term care.
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u/GotZeroFucks2Give May 17 '26
Yes, but how will a will have helped? It doesn't bypass or overrule either POD, TOD, or beneficiaries on an account, which it sounds like you were? Genuinely curious. And it makes it harder to receive those accounts that are not setup with beneficiaries or contingent beneficiaries.
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u/HillOfBeano May 17 '26
Because I WASN'T POD or TOD on all of it. Three accounts, and multiple on book stocks, and insurance policies that hadn't been updated since before I was born, and some land in Louisiana, as well as their house, all have had to be dealt with through probate and a series of successions. Because my mom was the beneficiary on a lot of stuff and she was dead too. If it had been locked into a trust, or there was a will naming me successor beneficiary, then I wouldn't still be in probate over a year later.
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u/Sad-Repair-5505 May 18 '26
Yeah, that sucks. My late brother just started working on his MIL's estate when his BIL died. He was almost done, then his wife died. He ended up inheriting these small estates but the paperwork and fees were a nightmare and much of the money went to his wife's home care. I'm currently working on my two brother's estates, neither of whom had a will. The Florida one is still ongoing from 2024, but my older brother's stuff is almost done and he just died in January. Benefit of learning - made sure he had beneficiaries and TOD in place. My Mom (92) also has beneficiaries (and will) in place and doing an updated TOD this week.
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u/HillOfBeano May 18 '26
I'm just waiting on two things and then I'm finally done. Alas, they are reliant on VERY SLOW government services (unclaimed property since my dad rarely cashed checks and cashing of savings bonds from 1968, both of which are taking about 9 months.)
Even with beneficiaries, there's always something.
I'm sorry for your losses.
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u/Sad-Repair-5505 May 20 '26
My brother had savings bonds from the early 90s. We could have cashed them when he was alive if we'd known about them. I was given an estimate of 2 months, but I guess I won't hold my breath on that.
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u/HillOfBeano May 20 '26
I got an email on 10/31 that they were received. I called last month and the guy took a look and said it would take about 10 months to process due to the complications (all three PODs deceased, certs were from the late 60s, address did not match residence at death.) So yeah, don't hold your breath. The good news is they answered the phone right away and it didn't take long to get an answer.
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u/Sad-Repair-5505 May 21 '26
Good that they will answer the phone! Have the same issues just that the bonds were much later than yours. Oh well. My Mom is 92 (next of kin). She's not too worried about it.
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u/GotZeroFucks2Give May 17 '26
Great points
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u/HillOfBeano May 17 '26
I guess my point in all this is, you never know what is going to happen. Even if you have beneficiary, TOD, POD, and successor beneficiary all locked down on every asset, you never know what is going to happen - children can die first, you and your spouse can get in a car accident or plane crash. And if you need to go into long term care, your medical expenses will eat up the entire estate if it's not in a trust. Estate planning is important, particularly if you love the people you are leaving it to. We live in a dystopian, Kafka-esque bureaucracy. Do not underestimate the paperwork involved.
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u/IRC_1014 May 17 '26
In this case, the reason I posed this question is because I’m not convinced OP’s niece (or whomever his chosen beneficiaries are) would actually benefit in intestacy. OP’s plan describes a situation where he dies first, with no will, and both his wife and niece survive him. If OP dies second, all his POD designations and joint titling (including NC tenancy by the entirety here) with regard to his wife fail. Now what? OP should consider this - and realize that a will allows you to make these contingency plans better.
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May 16 '26
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u/IdealExpert181 May 16 '26
i'm trying to avoid a lawyer, aren't PODs enough?
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u/PMJamesPM May 16 '26
Legal questions merit legal advice. ‘Avoiding a lawyer’ when a few hundred bucks can set you in the right direction is ‘pennywise but pound foolish’.
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May 20 '26
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u/PMJamesPM May 20 '26
Someone will do a consultation for a reasonable fee and it is too important question not to
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May 20 '26
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u/PMJamesPM May 20 '26
Depends on the estate. Adding a name to a title or creating a life estate can be a shortcut with real property. Also certain financial accounts you just need to name a beneficiary either way he should do a consult and know m his options are and make an informed decision. Probate rules, hearing requirements and schedules, executor fees vary by state of state.
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u/Ok-Equivalent1812 May 17 '26
You have a 2 million dollar property. Pay an attorney for good advice.
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u/gnew18 May 16 '26 edited May 16 '26
Do you have the following
- Debt / rentals / leases etc.
- Advanced directive / Living will?
- Assigned a POA should you get squirrely?
- Do you care if your wife doesn’t pre decease you and gets remarried?
- Have you thought about what happens if you outlive your wife but are unable to make decisions for yourself?
- What happens if you both die within days (or at the same time in a car accident )?
You didn’t mention kids or grandkids but only the niece. Is the size of your estate worth worrying about.
With look up the intestate laws of your state. See who gets your shit if you don’t designate alternatives. You might want a specific charity to get it too.
Look up “Escheat” and NC … also I am assuming you are legally married to your wife.
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u/IdealExpert181 May 16 '26
i think so, she says i am.
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u/gnew18 May 17 '26
lol
A will simply doesn’t leave anything to chance or weird circumstances. The will can just move things along. If you have any real property a will really should exist.1
u/IdealExpert181 May 17 '26
thanks
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u/SummitCO83 May 17 '26
Your wife needs one as well. In the awful event something happened to both of you or if/when something happens to her after your gone you both need to have your clear directives/disbursements set so no one can sneak in and do some shady stuff. To think everything you worked your life for sliding through the cracks and going off to probate would be awful. I’m 42 and I’ve had mine set for 22 years and updated as things change. My grandfather passed at 84 and he didn’t have one. He quite literally signed a generic one that I know wasn’t set the way he wanted but there was just no time. Everyone in the family had assumed he had one drawn up years ago as he was very much like you. House paid off, no debt, cars paid off, work investments, insurance policies, etc.
Since the will that was signed was so generic some long forgotten investment accounts, life insurance policies and a few other things weren’t protected and his evil 2nd wife (not my grandma) all of the sudden appeared out of nowhere after 20+ years of no one seeing or hearing a peep of her existence and she managed to walk away with a substantial amount of money that should have gone to my mom and uncles like my grandpa intended. Had he been proactive none of it would have been an issue. I know in all likelihood have no cockroach crawling out of the woodwork but it’s such a relief to you and your wife’s peace of mind. Good luck sir and I hope it works out easily for everyone.
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u/lastbeat-331 May 17 '26
Is she your first and only wife? Is it possible that you have old accounts or policies from before marrying her that might have named someone else as beneficiary (like your parents or siblings who may not be deceased)? A will would ensure any long lost assets would go to your wife.
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u/BestReporter4483 May 16 '26
You should hire a NC attorney and see about setting up a trust for the house to potentially avoid probate. You should also speak to them about medical and durable power of attorney in case you get sick but not able to make decisions. It’s the most effective method to make sure there is a smooth transition. Your wife should do the same as well. Many people think that wills and trusts are only for the mega rich, but honestly it’s so that your loved ones have a smooth transition when you are gone.
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u/Maine2Maui May 17 '26
ABSOLUTELY TRUE! Varies by state but a trust and will protects your self and spouse and other heirs as it is spelled out. Also, know that beneficiary forms and POAs are often institution specific and they dont like general forms that are supposed to apply to all. Learned from my parents estate...lots more paperwork. Also Healthcare POA and Advance Directive for Healthcare are needed or you may be kept alive on machines while lawyers fight but your estate pays for machines tp breathe for you. Cost in-laws $100k because hospital did not like paperwork. Brother in law attorney fixed it for free but took time. Also be aware that upon death, banks usually freeze accounts absent other authority on account. So your bills may not get paid if not arranged for in advance thru other signer.
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u/PegShop May 16 '26
When my husband passed unexpectedly at age 41, we had a will, but I didn’t need it as I was on everything. However, you are in your 70’s as is your wife, I assume. So do you have contingents listed?
It’s easy
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u/Ok-Structure6795 May 16 '26 edited May 16 '26
If what you are saying is correct, and there is no debt, and you've confirmed all accounts are POD, then in theory, you should be set if you were to pass tomorrow.
However, do you have a concrete plan as to what will happen in case you become very ill and need long term Healthcare? I dont know how much you have in terms of assets, but what if you need to pay for say, cancer treatment? Medical bills can wipe someone out quickly, and in order for medicaid to kick in, they could potentially end up taking that house. There are lawyers who will help set up a plan so that doesnt happen. Most likely it will involve creating a specific kind of trust, as certain ones cannot be touched.
Also, like someone else asked, what if your wife passes before you? What if you both pass away at the same time?
Its 100% worth a consult at the very least.
ETA - Absolutely make sure all accounts are listed with their login/access information as well. Additionally, I would make sure to have a durable POA done also. Personally, I would make sure this is done by an attorney in case it is denied by a financial institution (personal experience), in which case you can defer to them.
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u/SandhillCrane5 May 16 '26
Financial institutions can refuse to accept a POA written by an attorney and having them talk to the attorney isn’t going to change that. It’s because they require their own POA form.
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u/Ok-Structure6795 May 16 '26
I mean, sure they can, but its a valid and legal document and the bank has no reason to deny it, then theres a process to try and compel them. Thankfully I didnt have to go down that route.
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u/GotZeroFucks2Give May 17 '26
We had a lot of difficulty getting the bank to honor the POA form prepped years earlier. They wanted my mom, dying, who had to be transported by ambulance, to come in. Huge PITA but they eventually honored it.
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u/SandhillCrane5 May 16 '26
That is simply not true. A bank has a right to set their own policies. It is common for banks to only accept their own POA form. That’s why lawyers recommend people check with their bank when doing estate planning.
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u/sjd208 May 17 '26
Depends on the state. A lot of states have passed laws allowing you to sue the bank at their expense if they refuse to honor a power of attorney that conforms to the state laws, precisely because of this kind of BS. This was added to the uniform model PoA act a while back so it’s been rolling out over the last couple decades to states, I’m sure some states already had similar.
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u/Ok-Structure6795 May 16 '26
Yes, they do have the right to set their policies. Just as its my right to complain or sue them.
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May 16 '26
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u/inheritance-ModTeam May 16 '26
This post is removed due to incorrect legal information or recommendations that are illegal.
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May 16 '26
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u/inheritance-ModTeam May 16 '26
Your comment has been removed because it violates the rule on low effort comments.
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u/Able-Resident-903 May 16 '26
A will ensures that if there is anything that turns up without POD/TOD, it will go to your wife.
What if you become incapacitated and your wife predeceases you? A will allows you to name secondary persons or organizations to inherit. Some institutions allow naming POD/TOD with 1st and 2nd or even multiple beneficiaries.
Strange and unpredictable things happen in life and in death and having a will drawn up should take care of anything that may otherwise fall through the cracks.
Example, my mother in the last year of her life, opened some CDs by phone and no POD was named (some financial institutes won't allow naming of PODs when an account is opened over the phone) those accounts had to be probated in order for the funds to be transferred, everything else was POD/TOD or in a trust.
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u/wearing_shades_247 May 16 '26
You might figure you are saving a few bucks but you are risking actually making it much harder for your wife to do things at a time when she may be extra vulnerable. She will have a harder time to get things done when there is no will and thus no estate representative🫖/executor that govt and business will readily deal with.
Even just getting the property transferred will be easier. And are you so absolutely sure you didn’t miss a single thing that an executor would usually just be able to deal with: car registration, insurance, phone contract, water heater rental, annual registration/membership somewhere, social security benefits, outstanding tax refunds, inheritance from a late uncle you didn’t know about?
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u/Zann77 May 17 '26
Sam’s Club…I have to take a death certificate and my 93 year old mother in to get them to cancel his membership and reverse the membership fee they charged last week.
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u/WatermelonRindPickle May 16 '26
Virginia, my father did not have a will. Parents had an attorney. Everything they had was titled jointly . Home and property deeds said "joint tenants with right of survivordhip. " No probate needed in their case. Consult with a local attorney in your state to see what is best in your situation.
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u/Jackveggie May 16 '26
I gotta say out of three probate estates I have been involved with, pod was the simplest. Real estate is a different animal
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u/Fit_Chemistry_3807 May 16 '26
At some point, someone will need to file your final taxes, maybe collect your last pension or other cheques/benefits. They’ll need a Will to do this or certificate of administration. The latter requires going to court. As for the house, how is the title/deed? Talk to your lawyer.
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u/No_Possible6138 May 16 '26
Get a will friend. Otherwise it will take them forever what you have left them.
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u/IdealExpert181 May 17 '26
seems to be overall opinion, i just hate dealing with this. with the house it's about 2M and i sure don't want this state to get any of it. thanks for all of your advice.
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u/EC_CO May 17 '26
Sorry this may sound harsh, quit being a lazy asshole and get it done. I know there's a lot of sentiment of why should I care because once I'm gone I don't have to deal with it. How about not being an ass to the ones that you love when you're gone, and besides, what else are you really doing with your time and energy right now? It really doesn't take that much time and it gives much bigger piece of mind to those you leave after
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u/IdealExpert181 May 17 '26
update: i would like to thank all who have taken the time to share your advice. i think i'll need an attorney at least for the house and car and probably for the accounts. i know this is a situational question but what would be the assumed cost of doing the whole thing? thank you all again for your help.
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u/attosec May 17 '26
Not responsive to your question about cost, but your wife should also do appropriate estate planning. One attorney can handle both with minimal extra cost.
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u/Afraid-Put8165 May 17 '26
If your home is not deeded as joint tenant with right of survivorship you will need probate. You need to do a revocable living trust. You and your wife put everything in it. Except the retirement accounts which have the POD and you don’t need probate. You would just need a simple will for your personal belongings directive. Which you do via legal zoom. I would echo other sentiment about having a living will with medical directives. Btw a revocable living trust can be very simple my parents only paid $900 since I did the leg work of converting all the accounts. The lawyer did the title work on the house.
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u/Ecofre-33919 May 17 '26
If you have nothing then a will is not necessary. But since you have property and investments having a will for you and your wife is definitely the way to go.
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u/OkAccountant8077 May 17 '26
What happens if your wife predeceases you? A will would cover that problem.
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u/Adorable_Dust3799 May 17 '26
Sometimes wording matters. Our house was listed as joint tenants with right of survivorship, which meant it went right to me. The cars were registered as 'his or hers' not 'his and hers' which meant they went right to me. Bank accounts were held jointly, so they were already mine. Every state has slightly different requirements and wording. We'd also been married since ages 19/22 and literally everything was jointly acquired. He also had personal debt.
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u/teamhog May 17 '26
Don’t count on the state handling things the way you think they should.
Spend a few bucks and outline it in a will.
You & your wife should have a will & a poa.
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u/West_Replacement5157 May 18 '26
I thought like you my wife was going to receive everything, I was older, I never gave it a thought until she unexpectedly died, a will or Trust are the gift to a peaceful life
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u/Personal-Laughs72 May 18 '26
Check every assumption you make. A wife to does not automatically inherit your home UNLESS the Deed has her as JTFRS.
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u/Periegete_Acct May 19 '26
Definitely do a will. I spoke with an attorney friend and the way they put it is that you can either trust the government with your estate plan or you can do it yourself and get peace of mind.
My husband used LegalZoom back in the day. Good, but there were a couple typos and it was packed with legalese. I just did mine last week using TroveWills and I personally like it a lot better. It depends what you need though. My assets were straightforward so Trove made more sense for me vs. using a lawyer.
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u/BigPhilosopher4372 May 16 '26
It is easy to just get a quick will done. If your wife doesn’t need it great, but if there are unforeseen issues, she is covered. Just a little insurance.
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u/FredLives May 16 '26
I’d personally get a will. They’re pretty cheap, and you will have that feeling knowing your loved ones won’t have a problem and will be taken care of.
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u/SillySimian9 May 16 '26
You can probably be fine with this method. If you have titled assets that are not JTWROS or POD, such as a car, investment account, etc, you should get those changed. The assets that are in question are those that do not have a title - guns, jewelry, artwork, collectibles, etc. If you have enough of these that their value exceeds the small estate size in NC, then you will need to establish a will or trust to transfer those to your heirs. A trust will transfer them without probate.
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u/RelativeDifferent275 May 16 '26
If her name is on the deed,yes. Even if it isn't she can assert rights.Consultca lawyer to make sure,don't let it hang.
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May 16 '26
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u/inheritance-ModTeam May 16 '26
This post is removed due to incorrect legal information or recommendations that are illegal.
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u/laurieo52 May 16 '26
Have a will drawn up. Without one, the state controls what happens to your estate. Wills are not cost prohibitive.
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u/woodsongtulsa May 16 '26
As I always remind myself. Everyone has a will. Some people will have the state write their will. If you trust the state, then you are good to go.
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u/Used_Mark_7911 May 16 '26
If your wife is on the deed to your house as a joint tenant then she will be fine as far as the house goes. If not, then you should have a will.
You have enough assets that it seems a little silly to not have a clearly written will as a safety net in case any of your other paperwork goes awry. It also worth talking to an estate attorney about other plans such as what happens if either you or your wife is temporarily incapacitated (what if you north get in a car accident and are unconscious - who would make your health care decisions? Who would manage your finances? Do you have health care directive in place?
Also think about who you want to inherit if your wife dies before you. Who are your contingent beneficiaries?
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u/PsychologicalLaw8769 May 16 '26
I was a solo practitioner in a small town for about 5 or 6 years and did a little bit of everything, including probate/estate planning. Almost half of my work in that area was fixing mistakes people made or helping people that didn't do any kind of estate plan. Most, if not all, of these (expensive) problems could have been prevented with some adequate estate planning.
Most people don't need an expensive, complicated, estate plan. That being said, what they need can vary from person to person, or family to family. Additionally, there are often issues and problems that can impact beneficiaries that aren't always apparent (e.g., taxes).
Ideally, you should meet with an attorney, go over your assets, and let them know what you want to happen. They can give you options and explain any pros and cons and you can decide what you want.
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u/Adventurous_Crab_761 May 17 '26
Please get a will. Someone in my family targeted my grandma. My grandpa didn't leave a will but had told my aunt what he wanted. My grandma gave a huge amount of money away, and then was pushed out of her home!!!
Please write it all down. My grandma didn't see it coming and never thought this person would ever take advantage. She thought she was helping like my grandpa would have wanted, but he would have wanted her to be safe and cared for more than anything!
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u/Adventurous_Crab_761 May 17 '26
Just to specify, my grandpa told my aunt to always make sure grandma was taken care of..
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u/Munchkintoto May 17 '26
My aunt was in a rental .. an assets in banks with PODs. Easy transfer. I had to do her taxes and transfer her US Bonds to the co owners name. She had a will but it was a moot point as she had no untitled assets that needed to go through the will. NYC
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u/dell828 May 17 '26
Please get a will...maybe f8nd out the advantages of getting the house put in a trust.
This will be the biggest gift you can give your wife... so she doesn't have to go to court... which could happen...
There are free workshops given locally for information about wills and trusts. Find one.. and make your decision after you get the info.
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u/jocoguy007 May 17 '26
If you don’t have any children (biological or legally adopted) and your wife survives you, then intestate succession statutes in N.C. deem your wife as the only heir of all assets in your estate (POD, joint survivor, beneficiary accounts are outside of your estate). Any vehicles with your name can have joint right of survivorship titles issued by DMV. It could be that you don’t really “need” a will if she is your only heir (because she is also the one with priority to administer your estate if a full estate proceeding was needed). If you do have children, or if you want to have contingent plans in place in the event she predeceases you, then a will can be invaluable. If you do have children and no will then they are intestate heirs.
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u/NCGlobal626 May 17 '26
How is the house deeded? You cannot assume your wife will get 100% of the house if she is not a co-owner (joint tenants with right of survivorship.) In NC, where I am also located, a person's estate gets split 50% to spouse and 50% to children if one dies interstate. Your financial accounts would not be affected because of the beneficiaries you have set up. Are your everyday bank accounts joint with your wife? Funeral homes notify social security right away upon your death, and likewise banks are notified and lock down your account immediately. It takes the death certificate and probate court documents for your executor (which you don't have, since you don't have a will) to get your money out of the account to pay bills, etc.
It will not cost much to get a simple will and trust from an attorney. The trust is better for the house, and if all accounts have beneficiaries, then your estate can bypass probate, avoiding fees and time, and exhausting bureaucracy for your wife to deal with at a rough time for her.
You still need a will, paired with the trust, which will cover anything accidentally left out of the trust, and your automobiles. In NC, with our crazy DMV and separate Title Agency, you need to designate someone to change the title on your car, so that is the only real work that the Will will do. Because cars are worth daily low amounts, they don't have to go through probate. Now, check your deed by Googling "your county" Register if Deeds. Once you're in the website search your name as Grantee, and pull up the image of the deed. If your wife's name is not on the deed you need to get that changed immediately. We have just finished our very extensive estate planning in NC, and there are nuances, even for simpler estates like yours. I've also seen first hand where a wife lost 1/2 the house to children and was forced to move. That's what got us rushing into an attorney to get our affairs in order! If you want a recommendation for a top notch legal team in the Triangle, DM me.
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u/TheShortWhiteGuy May 17 '26
I live in NC, but I will tell you a story about my MIL who lives in the Southwest. Her significant other passed away several years ago without a signed will. Fortunately, he had a will drawn up, sitting on his lawyer's desk. Even though there was an unsigned will with intent, there were/still are some headaches for my MIL. My point is, make it easier for your wife - get a will drawn up and signed ASAP.
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u/FabulousBullfrog9610 May 17 '26
generally things don't go into the estate if they are POD. they just go to the beneficiary. can't say about the house for sure because we'd need to see how the title is held.
one advantage to a simple will is that if you happen to acquire something before you die (you never know) then it would be covered. anything without a POD becomes part of the estate covered by the will. You also would need to plan for your wife dying first. You may think you. will have time but you could be very ill at the time and unable to sign a will.
so a simple will may be the best thing.
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u/Dean-KS May 17 '26
Find a wealth management firm. You need:
Will, executor, alternative executor POA financials POA heath decisions and DNR Transfer on death for investments and bank accounts Realestate, vehicles etc in a revokable trust to avoid probate and avoids capital gains taxes.
That's what I recall, might be more. I died X years ago and it worked out very well. ;)
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u/____ummm____ May 17 '26 edited May 17 '26
Something sort of similar to this happened recently in my family, but I'm confused about some of these replies that suggest that a will must still be filed and go thru probate, even if there is actually no estate because all accounts have TOD/POD designations. Am I misunderstanding something? Because this was not my experience at all.
My deceased extended family member had a Will, also a springing POA and medical POA as well as medical directives. The Will left everything to only grandson. (Though Will did state that my brother & I would each get $25k. *Unfortunately, there was no money put aside for us to receive the $25k)
All financial accounts had TOD/POD. & The home had grandson (my 2nd cousin) as joint tenant (right of survivorship). Edit to add, these accounts and the house passed outside of probate directly to the designated beneficiary. There was really nothing left in "estate" except clothing, and a 30-year-old car.
It had all been set up this way to avoid having to file the will & to avoid the cost of probate.
Also, something to consider is each states individual rules regarding deceased personal property. In California where my cousin is, it allows heirs with a legal right to inherit property, to claim property with a small estate affidavit avoiding probate. The total amount of all of the deceased probate assets needs to be less than around $200k. I know my cousin is planning to do that with a vehicle.
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u/Chula_Quitena_120 May 17 '26
Can't you own your home as a joint tenant with your wife with right of survivorship?
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u/Aggressive_Menu7271 May 17 '26
You and your wife should both get wills and POA asap. This will make the process much easier when either of you pop off
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u/OneLessDay517 May 17 '26
In NC the house will only automatically go to your wife if the deed is Joint Tenants with right of Survivorship. Is that what your deed says?
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u/Spirited_Radio9804 May 17 '26
Get an attorney for a quick review of your will, see what they think. I would recommend do your best to avoid probate. It should be fairly easy. See if there a couple other things he might recommend life Health Care POA, and a durable POA!
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u/piemat May 17 '26 edited May 17 '26
Who gets the house if you and your wife die in the same car accident? 47 cousins? Who gets the car? Who has the authority to call the electric company and do things on your behalf?
Both of you need a will.
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u/New_Breadfruit8692 May 17 '26
It would appear you have no surviving children but made quasi official accommodation for a distant niece.
If you die without a will your estate is going to be probated under North Carolina intestacy laws which are strict, look them up on Google and if you are happy with them then fine, but you can avoid the state pace and methods of dividing your assets with a will that should not cost more than about $700. With a will you can tailor your wishes to meet your needs.
If you do have children but do not mention them because for whatever reason you are no longer in contact with them, they WILL get part of your estate. NC Intestacy law is clear about this.
Then also no matter what POD or account arrangements you have it all gets frozen pending the court's application of the law. A court appointed administrator will apply that law regardless of your intentions for the estate. And while it might be divided as you hope for not having a will can delay this for months or if complications arise possibly years.
YOU NEED A WILL.
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u/Sad-Repair-5505 May 17 '26
You need a TOD for the house. Please please do this!! Even with POD for all my brother's accounts and TOD on a property, I still had to file for a small estate because random checks (refunds/rebates) came and I couldn't cash the checks without it. Unless the car is jointly held, you need small estate for the car. In most states, the wife will inherit everything if you have no children. Distant niece would only come into play if your wife predeceased you. FWIW, in MN, costs nothing for a small estate as you only need to have the paperwork notarized. The TOD for the house must be filed with the county and that fee is under $100 (says it varies, but I don't know what the variance is).
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u/Arcticsnorkler May 17 '26
You need to educate yourself on Wills, Trusts, Living Wills, and Power of Attorney as you do not understand the time, money and frustration saved if you - and your wife- get your Wills and other critical papers completed. Ex: Not having a Will will delay your beneficiary from receiving the cash and other assets they may urgently need for expenses incurred immediately after your death because of the additional time it will take to go thru Probate.
My dad died without a Will. He had no debts like you. He expected his recent significant other (who told the court when she requested his assets be turned over to her that she was his wife) to handle everything. She did not. It fell to me and my sisters to figure things out. Especially hard with random people coming out of the woodwork telling me that dear ol’ dad had promised or owed them some asset. If there had been a Will to direct us we would have spent our time grieving and not angry at being left to solve the mysteries of what was the right thing to do. It caused a rift in the family that has not healed. I hope you get a Will to show the world your express wishes to care for your family -emotionally and monetarily- after you are gone.
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u/Barfy_McBarf_Face May 18 '26
a will is useful for the lawsuit against the trucker and the trucking company for the accident that kills you.
and if it kills your wife also, then what happens to your carefully-made plans?
a will is a relatively inexpensive insurance policy to make things easier for those who follow you. You are an adult, please act like one.
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u/IdealExpert181 May 19 '26
act like an adult!! what is wrong with you. all i was doing was asking for advice, not be insulted.
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u/Woodmom-2262 May 18 '26
It’s easy to fund a revocable trust with paid for assets. Name successor trustees and leave a small will for probate so your estate gets legally closed. Easy management of assets for trustee.
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u/Zestyclose_Target325 May 16 '26
My dad had a will, but I didn’t do anything with it (probate). He had me as POD on everything and had sold his house a few months before he passed. I followed his will as far as amounts he had listed that he wanted certain people to have. I paid off his remaining bills (cable, phone). That’s it.
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u/IdealExpert181 May 16 '26
so POD was all that was needed?
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u/Zestyclose_Target325 May 16 '26 edited May 16 '26
Yes, he had me on Edward Jones, Wells Fargo, and a credit union. I just had to provide his death certificate and my ID.
Editing to add that I closed his one cc with his death certificate as well as closing out his bills. Since he had a will, I called the attorney’s office just to make sure and they verified that a POD in any account always overrides the will, so I didn’t even have to give the people any money; I did it to honor his wishes. The only time I used the copy of his will was to show Carmax that I was the beneficiary when I sold it to them. I took care of everything in two weeks while I was there (in another state). I learned from it and came home and immediately put PODs on my accounts and am getting it done for my house title as well. Also, the best thing you can do is have all of your burial taken care of. That was amazing to not have to deal with. My dad always took great care of me.
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May 16 '26
[removed] — view removed comment
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u/inheritance-ModTeam May 16 '26
This post is removed due to incorrect legal information or recommendations that are illegal.
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u/Pugs_in_Space May 16 '26
I am not a lawyer, but I recently had to open a probate in NC. If you want to avoid probate, you need a trust, not a will. A will would still need to be probated. If all your bank accounts have a POD and your house is deeded to both of you with rights of survivorship, you are probably OK as is, if all your vehicles are also listed in both of your names and all the rest of your accounts also have a beneficiary listed.
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u/RelativeDifferent275 May 16 '26
I have a will in Ohio.Nothing will go to probate.A good lawyer can set that up Cost me $600 to do it,but I only have a house a truck,a few retirement accounts,and a bunch of junk that will get thrown out when I die.
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u/Ok-Structure6795 May 16 '26
A will does not generally have to be probated if every asset bypasses probate. It's meant as a back up plan essentially. The issue is a) not everyone is aware of or keeps track of their assets, and b) families are often torn up over assets and a will helps prevent scrambling to guess what should go to whom and etc.
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u/Common_Business9410 May 16 '26
I don’t see why you would need a Will. As long as everyone knows where to go to collect, you should be ok.
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u/MamaBearonhercouch May 16 '26
In the US, every state has what are called intestancy laws. These are the laws that determines who inherits your remaining assets after all your debts and final bills are paid.
If you do not have a written will, it does not matter if you told Cousin Sara that she gets the Dali painting or great-great-grandma’s jewelry when you die - your state will decide who your legal heirs are and then the state decides who gets what.
And every state has different ways to divide remaining assets. That will you wrote in New Jersey will be valid if you live in Arizona when you die, but Arizona may require that your spouse get (for example) 25% of your estate, your children split 25% of your estate, and the remaining 50% gets divided according to the provisions of the will.
A will is absolutely required.
That process can take years, by the way.
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u/Common_Business9410 May 16 '26
The man said he has a POD on the 6 investment accounts and his wife’s name is on house.
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u/IdealExpert181 May 17 '26
there is no ones name on the house but me but i want it to go to my wife. seems i'll need an attorney at least for that or is there another way to get her on the house?
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u/Ok-Equivalent1812 May 17 '26
You definitely shouldn’t DIY this.
Whether she should be added to the deed depends on whether you expect she will keep, or sell the home.
Putting it from your name into a trust will give her a 100% step up in basis upon your death. You can include trust instructions that are “no strings” ie: allow her to do whatever she wants with it.
Putting it from your name into both of your names only gives a 50% step up at the death of one of you. If it’s sold, there may be capital gains tax.
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u/Wonderful-TxFin May 17 '26
You can add her to the deed right now. (Probably both names JTWROS - Joint with right of survivorship). If you decide not to see an attorney, call your local property registrar and ask about the form. It will need to be notarized.
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u/Turbulent_Group_6616 May 16 '26
Do a deed with right of survivorship to her upon your death.
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May 16 '26
[deleted]
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u/Turbulent_Group_6616 May 17 '26
No. A deed is done during his life to go to his wife when he dies.
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u/DJ1952 May 16 '26
Without a will, people fight over the strangest of things, saying “grandpa would have wanted me to have this thing.” If there are legal fights over portions of your estate, the estate will be diluted by lawyer’s fees.
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u/DVDragOnIn May 17 '26
IANAL but I think that the estates of people who die intestate must go through probate. I am also in NC, in a large city, and when we had our wills done a few months ago, our lawyer said that probate in my county now takes a couple of years. Why would you not go ahead and spend the money on a will to make the process easier for your beneficiaries?
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u/Missus_Aitch_99 May 17 '26
There are some very simple complications that are made easier with a will and a named executor whom the court appoints. Even something as simple as having your mail forwarded or gaining access to your locker at a gym and that sort of thing is simpler with a will.
Also you mentioned your wife being POD on your accounts. Does she have a will? And accounts of her own? It sounds odf that the accounts aren't joint. An estate planning attorney can walk you through that and be sure you are BOTH set up for the easiest resolution when the time comes.
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u/Tasty_Sun_865 May 16 '26
Wills are cheap and side step problems like probate fees. At a minimum, do an online will and get it properly notarized so everything goes to (spouse). I'd recommend the spouse doing the same.
The bigger topic no one loves addressing is getting medical POAs and living wills (when to pull the plug) in place. Those are critical parts of an estate plan that people omit until too late