Simple situation, legal software, and attorneys

[verngator1]

What is the name of your state? Florida

Spouse and I have few assets besides our house, and plant to leave all assets to each other in the event that one of us dies. We have a minor child who will inherit all assets should we both die. We have life insurance policies in place that will provide for each other and for our child in the event of our deaths. We have chosen a trust worthy guardian for our child in the event that we should both die.

Since our situation is relatively simple, we are inclined to use legal software to prepare our wills. We will have the wills witnessed and notarized appropriately, and will store them in our safe-deposit box.

Question:
1. Is there any reason we might need an attorney?
2. If the worst does happen (i.e. my spouse dies), then what next? Is that when I hire an attorney, hand them the properly executed form and say "Make it so!"?

Thanks!

 

[moburkes]

What will you do if you get divorced? My opinion: You own the life insurance policy on the spouse, the spouse owns the life insurance policy on yourself.

 

[verngator1]

They are term policies.

If we got divorced, we would write new wills.

 

[moburkes]

They are term policies.

If we got divorced, we would write new wills.

The fact that they are term policies doesn't change my opinion about the policies. Divorced people tend to change the beneficiary FROM their ex-spouse, which leaves the ex-spouse SOL if the other dies. They also tend to change their wills.

 

[verngator1]

I purchased and am the beneficiary of a policy in the case of my spouse's death. Spouse purchased and is the beneficiary of a policy in the case of my death. If I stop paying premiums and spouse dies, I am SOL. If spouse stops paying premiums and I die, spouse is SOL...but in reality, the money comes from the same accounts today. That's how we have it set up now.

That being said, is there any reason with the current status quo that we need an attorney? And once we print out the wills, what do we do with them except have them appropriately witnesses/notarized...& stick them in a safe deposit box?

Thanks again!