
What Do I Need to Know about Wills?
If you die without a will, you die “intestate.” Your assets will be distributed according to your state’s law. That could result in a distribution you didn’t intend.
If you die without a will, you die “intestate.” Your assets will be distributed according to your state’s law. That could result in a distribution you didn’t intend.
The Covid-19 pandemic has increased Americans’ awareness of the need to have a will, living trust or other similar end-of-life document prepared.
Here are some important parts of your estate plan that should be reviewed.
This is big concern for millions of older Americans who don’t have a spouse, children or other family they can depend on to watch out for their well-being.
While it’s never fun or pleasant to think about what will happen to them if the worst should happen to us, it’s very important to consider how we can ensure that they are well cared-for when and if we are no longer able to care for them ourselves.
If you don’t have a spouse or children, you might think you don’t need to do much estate planning. However, if you have any assets, familial connections, or interest in supporting charitable groups – not to mention a desire to control your own future – you do need to establish an estate plan.
If you don’t have a will and an estate plan, probate is an after-you’ve-gone legal struggle. It could last months, if not years, in a battle over what you intended your family (or friends) to have: your estate!
The first step in getting your affairs in order is to gather up all your important personal, financial and legal information, so you can arrange it in a format that will benefit you now and your loved ones later.
Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.
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