Don’t let the State decide who gets your assets after you die. Plan ahead instead.
“Late Cars’ singer Ric Ocasek cut his estranged, supermodel wife out of his will, claiming that she ‘abandoned’ him, the now-public document reveals.
Your will is one of the most important documents you will ever sign. However, to think that over 70% of people don’t even have a will is, indeed, quite frightening.
Various studies show that most adults have not prepared a legal will. However, the point I’m really trying to make is that everyone has a will in a way—just not one that they have executed.
You don’t want to cause a fight over these items, after your dad is gone.
If you and your spouse are child-free, you may think you don’t need to think about comprehensive estate planning—but you’d be wrong. You’ll still want to ensure your assets go where you’d like them to after you’re gone, rather than being divvied up by the state.
If you think Estate Planning is simply the creation of a will or trust, you are missing a large portion of information, and could potentially have assets that do not flow according to the plan you have set up in your will or trust.
Let’s face it: mortality is hard to think about and death is impossible to plan for. What is doable, however, is getting affairs and assets in order to prevent loved ones from inheriting a headache and legal fees in the event of an incident.
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