According to the U.S. Department of Agriculture, a middle class family raising a child to adulthood will spend over $233,000 on that child between the ages of 0 to 18. That doesn’t even factor in the cost of college education, which can be thousands of dollars more per year once a child reaches adulthood.
One reason for having a will is to make sure your wishes are carried out. If you die “intestate” (without a will), your assets will be distributed by state law, not by your desires.
If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.