In fact, many couples with no children mistakenly believe that they are less likely to need a last will and testament than couples with children.
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
If you don’t have a spouse and children, you might not think you need to do any estate planning—but that’s not the case.
If you want loved ones to remember you fondly, tackle your estate planning tasks. Your heirs will thank you for not leaving a legal mess to sort out.
In general, a last will and testament is an easy and straightforward way to state who gets what when you die and name a guardian for your minor children.
How do we move into probate, so we do not lose the house and bank accounts, while not killing ourselves in the process?
Although there is considerable legal information and misinformation, it is generally understood that a last will and testament is the device used to distribute property after death. However, the why, how and when are less familiar.
A last will and testament is a straightforward estate planning tool, used to determine the beneficiaries of your assets when you die, and, if you have minor children, nominating a guardian who will raise your children. Wills can be very specific but can’t enforce all of your wishes. For example, if you want to leave…
When these types of situations arise, there are many steps you can take to avoid your will from being contested by individuals who believe they are entitled to receive your assets.
In a nutshell, an estate plan encompasses the accumulation, conservation and distribution of an estate. Done well, it will enhance and maintain the financial security of the next generation.