THE MALDEN ADVOCATE–Friday, May 19, 2023 Page 19 Subscribe to the Advocate Online! www.advocatenews.net aavvyvy S avy avvy S oiorenniioor nior by Jim Miller How to Prepare a Will Dear Savvy Senior, I would like to make my last will and testament and would like to know if I can do it myself, or do I need to hire a lawyer? Don’t Have Much Dear Don’t, Very good question! Almost everyone needs a will, but only around one-third of American have actually prepared one. Having a last will and testament is important because it ensures your money and property will be distributed to the people you want to receive it after your death. If you die without a will (a.k.a. dying “intestate”), your estate will be settled in accordance with state law. Details vary by state, but assets typically are distributed using a hierarchy of survivors i.e., fi rst to a spouse, then to children, then your siblings, and so on. You also need to be aware that certain accounts take preceMay 19, 2023 dence over a will. If you jointly own a home or a bank account, for example, the house, and the funds in the account, will go to the joint holder, even if your will directs otherwise. Similarly, retirement accounts and life insurance policies are distributed to the benefi ciaries you designate, so it is important to keep them up to date too. Do You Need a Lawyer? Not necessarily. Creating a will with a do-it-yourself software Carol Ann T. Desiderio, City Clerk cdesirio@cityofmalden.org 215 Pleasant Streets, Room 220 Malden, Massachusetts 02148 Phone 781-397-7116 www.cityofmalden.org City of Malden Massachusetts MALDEN CITY COUNCIL PUBLIC HEARING NOTICE The Malden City Council will hold a public hearing in the Herbert L. Jackson Council Chamber, Room 106 on the first floor of Malden City Hall, located at 215 Pleasant Street at 7:05 P.M. on Tuesday, June 6, 2023 on the petition of DMS Trinity LLC, on behalf of Charles Street Realty Trust 2020, seeking an extension of the expiration date of the special permit (Case #202-22) granted on April 26, 2022 for a Marijuana Establishment at the property known as and numbered 36 Charles Street, Malden, MA and also known by City Assessor’s Parcel ID #062 239 910. Petition and plans are available for public review in the City Clerk’s Office, 215 Pleasant Street, Room 220 and on the city website under Permit Application # CMID-040598-2021 at https://maldenmaenergovweb.tylerhost.net/apps/SelfService#/permit/d1330151-e462-46658070-d7ba9eff08f7 By: Carol Ann T. Desiderio City Clerk May 19, 2023 program may be acceptable in some cases, particularly if you have a simple, straightforward estate and an uncomplicated family situation. Otherwise, it’s best to seek professional advice. An experienced lawyer can make sure you cover all your bases, which can help avoid family confusion and squabbles after you’re gone. If you need help fi nding someone the National Academy of Elder Law Attorneys (NAELA.org), the National Association of Estate Planners & Councils (NAEPC.org) and the American College of Trust and Estate Counsel (ACTEC.org) websites are good resources that have online directories to help you search. Costs will vary depending on your location and the complexity of your situation, but you can expect to pay somewhere between $200 and $1,000 or more to get your will made. To help you save, shop around and get price quotes from several diff erent fi rms. And before you meet with an attorney, make a detailed list of your assets and accounts to help make your visit more effi cient. If money is tight, check with your state’s bar association (see FindLegalHelp.org) to fi nd low-cost legal help in your area. Or call the Eldercare Locater at 800-677-1116 for a referral. If you are interested in a do-it-yourself will, some top options to consider are Nolo’s Quicken WillMaker & Trust (Nolo. com, $99) and Trust & Will (TrustandWill.com, $159). Or, if that’s more than you’re willing to pay, you can make your will for free at FreeWill.com or DoYourOwnWill.com. It’s also recommended that if you do create your own will, have a lawyer review it to make sure it covers all the important bases. Where to Store it? Once your will is written, the best place to keep it is either in a fi reproof safe or fi le cabinet at home, in a safe deposit box in your bank or online at sites like Everplans.com. But make sure your executor knows where it is and has access to it. Or, if a professional prepares your will, keep the original document at your lawyer’s offi ce. Also, be sure to update your will if your family or fi nancial circumstances change, or if you move to another state. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book.

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