Your Ex Still in Your Will?
Maybe it's time to get a second will.
If you're like me, you have a first will. In fact, I've had a couple of them. You know the type: the cheapo will put together by the same lawyer who did the closing on your house, where you bequeath everything to your spouse and you name a guardian for the children.
I got a cheapo will shortly before my wife and I climbed onto a plane together, leaving the kids behind with their grandmother. I got another one when my wife stopped being my wife, this time bequeathing everything to the kids. Each cost $150 or so.
But it's starting to dawn on me that, while my will is simple, the rest of my life no longer is. Got the same feeling? Here's how to put together an estate plan that'll let you rest in peace.
Judging lawyers. For your second will, forget the local lawyer who handles quickie divorces and drunk-driving arrests. This time around, you want a top-notch expert in estate planning.
KEEP IT CURRENT
You should revise your will if:
? You get divorced or remarried.
? Your kids develop mental or physical problems.
? Your wealth balloons, making estate taxes an issue, or it shrinks, derailing your old estate plan.
? The tax law changes, or you move to another state.
? You plan to bequeath your business to your children.
To that end, get a fistful of referrals from your accountant, investment adviser and insurance agent. Failing that, click on
www.actec.org, the American College of Trust and Estate Counsel's Web site, where you can find a list of estate-planning lawyers in your state.
Spend a little time interviewing each lawyer, either over the phone or in person. Find out how much experience they have and what they charge. Ask what percentage of their time is devoted to estate planning. "If the answer is less than 100%, it should be a problem for you," says Jonathan Forster, an estate-planning lawyer in Tysons Corner, Va.
If your estate consists of unusual assets, such as a small business or a hefty amount of stock options, check to see if your prospective lawyers have experience dealing with these assets. Also find out what's the largest and smallest estate they have handled in recent years.
"You don't want to be somebody's largest client," Mr. Forster says. "At that point, you're an experiment. On the other hand, if you're their smallest client, you will probably get the greenest associate working on your plan. You want to be their average client."
Second thoughts. Before you meet with your new lawyer, make two lists. First, draw up a detailed list of your assets. "Remember, you're working with somebody who is billing by time," Mr. Forster says. "If you're not organized, you'll spend twice as much."
Second, write down what you are trying to achieve with your estate. "There are all kinds of circumstances that bring people in to get their second will," says Chicago estate-planning lawyer David Handler. "Often, it's when the kids are getting older and it's becoming clear who they are becoming. Maybe one is an investment banker, one is a teacher and one has a physical disability, and an equal division of assets no longer seems sensible."
There is also, as I am discovering, the changes wrought by divorce and the new relationships that follow. If you get remarried, you have the tricky issue of providing financially for your new spouse, while ensuring that your assets eventually pass to your children.
Even if things are calm at home, you may need a new will because your wealth has ballooned, either through your own good fortune or because you inherited a bundle. "One minute, the parents think they're leaving the kids half a car each," Mr. Handler says. "The next minute, they are leaving $2 million. They're dealing with life-altering wealth and they start to think about the controls they want to put into place."
That ballooning wealth may also require some sophisticated maneuvering to reduce the hit from estate taxes. You can leave an unlimited amount tax-free to your spouse. But if you die in 2004 and leave more than $1.5 million to your other heirs, Uncle Sam will want a chunk of your estate.
Think you have already dealt with the tax question? Think again. You may need to update your will to reflect the 2001 tax law, under which the estate-tax exemption is slated to increase from $1.5 million today to $3.5 million in 2009. The estate tax then disappears in 2010, only to return in 2011, with the exemption reverting to $1 million.
Fine print. If your new lawyer is any good, you won't just discuss who gets what and how to minimize estate taxes.
Let's say you are concerned that your son isn't financially responsible. To put limits on his spending, your new lawyer might recommend placing his inheritance in a trust. Similarly, your new lawyer might suggest using a trust to minimize the hassle of probate.
Your lawyer will probably also advise drawing up a durable power of attorney, a health-care power of attorney and a living will. A durable power of attorney lets somebody make financial decisions if you become incapacitated, a health-care power of attorney names somebody to make medical decisions on your behalf, and a living will specifies your wishes concerning life-prolonging medical procedures.
In addition, your lawyer should talk to you about your retirement accounts, your life insurance and any property you own jointly with right of survivorship. Typically, these assets aren't governed by your will.
Instead, jointly owned property automatically goes to the survivor, while retirement accounts and insurance policies go to the beneficiaries named on those accounts. Never updated your beneficiary designations? Put it this way: Your ex-spouse could end up remembering you with surprising fondness.
如何让你的离异配偶得不到全部遗产
或许到了再写一份遗嘱的时候。
如果你像我一样，你有了第一份遗嘱。但事实上，我有好几份。你也知道这样的情况：负责处理你房产的律师将这些价值不高的遗嘱拼凑起来，在遗嘱中你将全部财产留给自己的配偶，然后为孩子们指定一位监护人。
我是在与妻子一起乘坐同一架飞机的不久前留了一份遗产没多少的遗嘱，将孩子交给他们的奶奶照顾。我的妻子和我离婚后，我写了另一份遗嘱，把所有的财产都给了孩子。每份遗嘱都花了我大约150美元。
然而，我逐渐开始意识到，虽然我的遗嘱很简单，但我的后半生却没有这么简单。你是不是也有同样的感觉呢？下面我就会介绍一种处置财产的方案，也许能让你的有生之年不再因遗嘱而烦恼。
--慎选律师。当你再次立遗嘱时，你需要的是一个精通财产规划的专家，那些处理离婚或酒后驾车案件的律师是不行的。
为了找到这样一个律师，你需要征求你的会计师、投资顾问和保险代理人的意见。或者你可以登录
www.actec.org，这是一个这方面的专业网站，你可以在上面找到在你所在州从业的财产规划律师的名单。
稍微花一点时间和他们通电话或面谈。看看他们是否经验丰富，以及如何收费。问问他们在财产规划上花多少时间。“如果他不是将全部时间用于这方面的话，如果你聘请他就会有问题了”，弗吉尼亚州财产规划律师乔纳森?弗斯特(Jonathan Forster)说。
如果你有一些不一般的财产，比如一家小型的企业或者是大量股票期权，那你还要考察一下你未来的律师在这些方面是否擅长。另外，你要了解一下最近几年他经办的最大和最小的案件。
“你不要成为这个律师最大的客户”，弗斯特说。“否则的话，你也就成了他的实验品了；如果你是他最小的客户，他可能就会派一些刚入行的生手来处理你的问题了。你最好成为一个中等客户”。
--事先规划。在与你的新律师见面前，准备好两份清单。第一是财产清单。“要知道，你要见面的人是按时间收费的”，弗斯特说。“如果你自己不先理清楚，你就要多花一倍冤枉钱”。
然后要写下来你希望如何处置每项财产。“有很多情况的发生使人们需要重写遗嘱”，芝加哥财产规划律师大卫?汉德勒(David Handler)说。“通常等孩子长大了，他们未来的生活已经越来越清晰。可能一个孩子成为投资银行家，一个是一位教师，而另一个却有生理残疾，如果你在他们三人中平等分配财产恐怕就不再合适了”。
还有婚姻生活变化产生的问题，如果离婚后又组建一个新家庭，那么，如何让你的新配偶有生活上的保证又能将财产分给自己的孩子，这个关系恐怕就不太容易处理了。
即便家庭内部的情况没有什么问题，你也可能需要第二份遗嘱，因为你或是自己发了财或突然继承了一大笔遗产而使财富增长了很多。“父母刚开始觉得自己也许只能留给每个孩子半辆汽车”，汉德勒说，“可突然之间居然能留给孩子们200万美元。这些财富足以改变人的生活，他们就开始考虑如何控制这些财产了”。
财产的膨胀还使你不得不再考虑采取一些复杂的报税技巧以减少财产税。你可以留给配偶无限多的免税财产。但如果你在2004年死去，留给其他继承人超过150万美元遗产的话，山姆大叔可就要大大收你一笔税了。
即便你已考虑到过纳税的问题，现在也需要再次考虑。你的新遗嘱应当适用2001年的税法。根据该税法，到2009年，免税遗产额将从目前的150美元上升至350万美元；到2010年，这项税收完全没有了；等2011年，又开始征收，那时的免税额就只有100万美元了。
--备好文件。如果你的新律师非常好，你就不要只跟他讨论财产的分配给谁以及如何避税的问题。
比方说，你觉得你的儿子不善持家。为了控制他的开销，你的律师可能会建议你将儿子的财产存入信托机构；同样，他还可能建议你利用信托机构来尽量减少麻烦的遗嘱检验手续。
你的律师可能还会建议你起草永久授权书、医疗授权书以及医疗指示。永久授权书是让某人在你没有能力再做出决定的时候为你做财务决定；医疗授权书指定某人代表你做出医疗决定；医疗指示是说明你是否愿意在生命危及时刻同意采用延长生命的措施。
此外，你的律师还会谈谈你的退休帐户、寿险以及任何附有生存者取得权(right of survivorship)的财产。这些通常不在你的遗嘱控制之下。
共有财产通常会在你死后之后自动归属生者；退休帐户和寿险保单都会归属指明的受益人。为什么不去变更指定受益人呢？你可以这样想，你的前任配偶会因此而永远记住你的好。
如果发生下列情况，你需要改立遗嘱：-- 离婚或再婚；-- 孩子出现智力或生理问题；-- 你的财产增加或减少；财产增加带来财产税的问题，财产减少迫使你改变原来的财产计划；-- 税法变更，或你搬到另一个州居住；-- 计划将自己的企业留给孩子。
