Let’s face it; nobody relishes the task of making out a will. Squarely addressing the prospect of your own mortality can be upsetting enough. But the financial questions surrounding what and how to arrange for one’s heirs are disconcerting, too.
Sitting down to prepare your Last Will and Testament is not at the top of anyone’s “this is a fun thing to do” list. It is so easy to procrastinate, especially for Baby Boomers reaching that stage of life.
Whether you tell yourself there is still time or “I do not have enough assets to have an estate worthy of planning,” the excuses likely run much deeper. Perhaps you are intimidated by the process, by the concept of facing mortality, or the fact that you really need to involve (and pay) an attorney to help you.
Whatever the reason, even if you do not realize that there is a reason, the fact remains – you still need to do it and need to know how to do it right. Need some guidance because you do not know where to start? Fortunately, Forbes has stepped up with just the right article for you titled “What Baby Boomers Need To Know About Making Out A Will.”
You see, writing your Last Will is not just a set of decisions, but also a part of a comprehensive plan. As you think about what goes where, and to whom, you might come across other issues. The plan you create may not only affect you, your loved ones and your assets. In the big picture, estate planning can be much, much more.
Be sure to engage competent and experienced legal counsel who has been there and done that. Best to know where the blind alleys are and which bridges are out before you begin your estate planning journey.
Reference: Forbes (January 23, 2014) “What Baby Boomers Need To Know About Making Out A Will”