Most likely, yes. The wills provided on this site are generally sufficient for people who are under age 65 and own property worth less than the threshold limit for federal estate taxes ($675,000 in 2001, rising to $1 million in 2002). With larger estates and as you grow older, a basic will may not be the most economical and efficient method for passing your property and you should consult an attorney or estate planning professional. This site is not a substitute for the advice of an attorney and questions regarding your estate plan should only be directed to a qualified attorney or estate planning professional.

When making a simple will, the vast majority of married couples desire to leave everything to each other first, and when the spouse dies then to the children equally. Most single parents desire to leave everything to their children and name guardians; and for people without children, most desire to leave their estates to their spouse, significant other, relatives or friends. If this is the way you would like the distribution set out, then please proceed. Remember, this Simple Will is intended to cover most general situations. If the variations produced by this site are not sufficient for your needs (especially if you have complicated estate planning needs), you should seek legal counsel.

Net Worth - are you above $675,000?

Your entire estate consists of the net worth of all the property you own when you die, in whatever form of ownership. Net worth is the market value of the property, less any amounts owed on it. The personal estate tax exemption allows a set dollar amount of property to be transferred free of tax ("threshold limit").

When adding up your assets to determine estate value, be sure to include the following (less any amounts owed on them):

ü	Residence
ü	Other real estate
ü	Savings (bank accounts, CDs, money markets)
ü	Investments (stocks, bonds, mutual funds)
ü	401(k), IRA, pension and other retirement accounts
ü	Life insurance policies and annuities
ü	Ownership interest in a business
ü	Motor vehicles (cars, boats, planes)
ü	Jewelry
ü	Collectibles
ü	Other personal property

Use our net worth calculator.

If you have total assets worth more than $675,000, estate planning beyond the basic will on this site will benefit your heirs and may reap huge rewards when the tax bill arrives. If you are close to, or above that threshold limit, you should not use the basic will provided here but should consult an attorney or estate planning professional.

Difficult or Complex Situations

If you have a difficult or complex situation, the will provided at this site is probably not your best choice. For example, if want to disinherit relatives, set up complicated trust provisions, have a child with a disability, or anticipate family conflict, you should seek legal counsel and may be better served by another estate planning tool.

See how this site works.