Wills
Do you have a will?
It's been estimated that 70% of Americans don't have a will. You may think you don't need one because you expect that your estate will go to certain people -- spouse, children, other relatives. Well you could be very, very wrong. Each state has laws about how an estate is distributed. You may think it will all go to your spouse but instead part will go to your siblings, or even their children. You must find out what the laws are in your state.
If you don't have a will the estate will have to go to court and have an executor appointed. This takes money out of the estate and executor may not be someone you would want to have handling the disposition of your funds and your goods.
If you have children you need a will to appoint a guardian in the event that something happens to both parents. You want someone to raise your children who will raise them the way you want them raised.
It's been estimated that 70% of Americans don't have a will. You may think you don't need one because you expect that your estate will go to certain people -- spouse, children, other relatives. Well you could be very, very wrong. Each state has laws about how an estate is distributed. You may think it will all go to your spouse but instead part will go to your siblings, or even their children. You must find out what the laws are in your state.
If you don't have a will the estate will have to go to court and have an executor appointed. This takes money out of the estate and executor may not be someone you would want to have handling the disposition of your funds and your goods.
If you have children you need a will to appoint a guardian in the event that something happens to both parents. You want someone to raise your children who will raise them the way you want them raised.
Labels: children, estate, estate planning, executor, guardian, spouse, will
posted by Elaine Bloom at 4:10 PM
0 Comments:
Post a Comment
<< Home