Estate Planning checklistWe all need to think about an Estate Planning checklist at some point -- like NOW! Nobody is Promised Tomorrow... You've accumulated savings and "stuff" over a lifetime - why not allow yourself to decide who gets what? Just a little bit of estate planning gives you peace of mind! You can also get peace of mind from writing your own Ethical Will. Leaving your own "moral compass" for younger generations is a great gift to the family. First, if you are married, just consider, for one moment, the death of your spouse. Especially if you are a woman, please be sure you understand the death of a spouse, as you may have to take over the household if that occurs. It's just important to ask questions... You can now learn lots about wills on line, even writing your own wills with a do it yourself will (for smaller estates), or hire an inheritance attorney or probate attorney to get the job done right. Handwritten wills are accepted in some states. Do It Yourself Wills are relatively easy online. There are fill in the blank formats for wills online. Even if you feel you have no "estate" for planning, you don't have a home, IRA's and investments, you still have personal possessions that should go to whom you wish to receive them, right? Do you understand what happens when you have no will? Wouldn't you prefer to choose who gets what, instead of someone else doing that job? Many of your investments like IRA's, 401K's, 403B's, etc, have a named beneficiary. They automatically go to that person if you die. They are outside of a will, they supersede the will, and are automatically distributed. Some pension plans, like defined benefit pension plans often provide a survivor benefit to a spouse, at the employees death. Then there is the Social Security survivor benefit to check out... hey, you need to know everything so you know what you are eligible should death of a spouse or family member happen. Your home, car, savings and such are the "estate" that probably need, in the least, a will that you've documented what you want done at your death. That could be relatively simple estate planning. Your STATE determines where your stuff goes... do you want that? I think not. This FREE Estate Planning Resource Guide was written by the State of Michigan... find one for your own state - OR - download it below and use the checklists and forms to get your estate in order. You shouldn't use the fill-in-the-blank will as you need one from your own State (but, do a quick Google search and find it now!) Enter for your search either (1) Michigan Estate Planning (or whatever state you are from) - or - (2) Michigan Do It Yourself Wills. I think you'll find oodles of information from your own State government. Each State is different so you do need to look specifically at your own State. Simple wills are easy to do online. If you are worried about it, do one, take it to an attorney to review it -- it will cost you lots less to have them review it, compared to having them use their will template and fill in the blanks for you. Do you realize that an Attorney is specialized like doctors? You wouldn't use an orthopedic doctor for a heart attack and you shouldn't use a criminal attorney for your estate. Seriously, use Google or the Yellow pages for an Estate Attorney.. this is so important! Some folks need a Trust... and you do need an attorney for more complex estates (but those folks aren't reading this... grin!) A Will instructs on what happens at your death (who gets what). With a Trust, it is more complex, requires an attorney, but it also allows you to say HOW your assets are distributed. Like you could say that your kids only get their share at a specific age, or whatever particular circumstances that you might dream up. They can get quite complex... Any Experiences with WILLS to Share?Do you have a great story about this? Share it! What Other Visitors Have SaidClick below to see contributions from other visitors to this page... Don't leave on your "last journey" without preparation ... Recently, I had the sad experience of participating in the condolence meeting held near my house. A neighbor's younger brother had died suddenly at the ... Wills: Tell someone who your lawyer is! My husbands father died of a heart attack. A couple of weeks before he died, he offered for my brother-in-law to see his will. He pointed to an area ...
When Grandmother Died,,,
My grandmother and I were always very close. Grandfather died: Family fight over the will started My grandfather died and all his sons and daughters started fighting about the will he wrote and who should get the money he left behind. This family started ...
Grandfather's Dementia
My Aunt's Will... she meant well.
I know my aunt meant well. She left her will a bit open so that the family could flexibly distribute her wealth as births and deaths happened. Grandma's Will wasn't Respected In my family, there was a great upset after my grandmother's death. She and my grandfather had both married after their previous spouses had passed away ...
My Grandfathers Last Will without an Attorney
My father and my uncles do not get along well. This is a FREE Estate Planning Resource Guide you can get online for Michigan residents. It's got fill-in-the-blank wills, important papers, and lots more! Check it out and find one for your state too! What if you have no will? Why do you need one? Consider the death of your spouse for just one moment... Did you know that handwritten wills are legal and work for some folks with simple estates? The American Bar Association provides lots of pdf files on wills and estates issues... free for you to download! There are reader stories below at the bottom of the page - please don't miss them. We can all learn from what happened to other families during the estate process.. it often isn't pretty. More Retirement Advice here! New! CommentsPlease consider leaving your two cents... questions and comments about what you just read! It only takes one retirees thoughts to help another retiree... |
| |
| Early Retirement | ||||||
| Pre Retirement Advice | ||||||
| After Retirement Help | ||||||
| Divorce at Retirement | ||||||
| Retirement Hobbies | ||||||
| Senior Housing | ||||||
| Retirement & Money |
Online Rocks! Retirees Helping Retirees! Sometimes your two cents can make a difference in someone's life! |
 |
Free Mega Ebook:
20+ Free Ebooks Inside. Download or print any or
all of them, just click!
| Too Young to Retire  |
|
