4. A will protects you and your loved ones.
You don’t want to have
your savings, retirement,
home and property go
through the court system
(known as probate).
5. Chances are, you have a pretty good idea of where
you’d like your money and property and assets (known
as your estate) to go.
6. A WILL
also called your last will and testament, is an official
document that lets your family and the court know what
you’d like to happen to your assets.
You can include other information in your will by creating an estate plan that
provides specific directions for health, financial or property situations.
7. A trust
An advance health care directive
Your wishes for your children
Who will carry out your wishes: power of attorney,
guardians or executors
Durable power of attorney for property and/or
Your estate plan can be as simple
as a will. Or it can include:
A will can allow you to minimize your estate taxes.
This is because the value of what you give away
reduces the value of your estate for tax purposes.
There may be family members who you do not wish to
include in your will. Without a will, your estate could be
left in the wrong hands. This may be an ex-spouse or
close family member.