Because few of us know when we will pass away, or face other complications of life, an appropriate estate plan should be designed to ensure you decide what happens and when. Unfortunately, even if you have a Will or trust, other decisions you make can undermine that plan.
Posts Tagged ‘Beneficiaries’
Everyone has seen the movie or television show when the family gathers for the reading of the will. It is usually a dramatic event with an unexpected twist that makes for a good movie plot. Is there actually any requirement to have the family meet for a “reading of the will?” If not, how do people find out what is in the will?
I have not been hesitant to emphasize the need to do your estate planning. Without planning, many families deal with such difficult situations that could have been avoided.
Proper planning means more than simply listing what happens to your “stuff” when you die. Estate planning should address your wishes should you or your spouse become incapacitated and unable to care for yourselves. Also, if you have concerns that your assets may be inappropriately used after your passing, your estate plan should also provide solutions to this concern. This is actually less complicated (and less expensive) than many people think.