
Do Young Adults Need a Will?
These days it’s easy to feel overwhelmed by many things such as politics, gas prices, the gyrating stock market, summer travel, heatwaves and your health. One thing that shouldn’t overwhelm you is estate planning.
These days it’s easy to feel overwhelmed by many things such as politics, gas prices, the gyrating stock market, summer travel, heatwaves and your health. One thing that shouldn’t overwhelm you is estate planning.
There’s always plenty of time to get your affairs in order, until you get run over by a cement truck.
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ease and qualify for Social Security spousal and survivor benefits. However, not all couples want to get married.
Even if you’ve already drawn up a will, if you’re in one of these situations, it’s a good idea to review your final wishes and make any necessary changes, so your money and personal belongings are left in the right hands.
Estate planning is always a difficult subject to deal with, because who wants to arrange things for when they die?
When you draft your will, you should name an executor.
A striking proportion of Americans don’t have one. Nontraditional families are left uniquely vulnerable.
Dying intestate—without a will—may impose costs and delays on your loved ones. It can dynamite your estate plan, unless you made other plans.
A recent survey estimated that 68% of people die without a will. The consequences of dying without a will (‘intestate’) can be disastrous.
Among those who do not have an estate plan, 63% said that they have considered creating one in the past and 46% said they do not know how to start.
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