What happens if you don't plan?
If you die without a will or trust, you've in effect left it to state law to write your will for you. That means the state will make certain assumptions about where you'd like your money to go—assumptions with which you might not agree. Some of your hard-earned money might end up with people who don't need it. Meanwhile, others who might need the money more, or who are more deserving, could be shortchanged. And surviving relatives may squabble over who gets particular items of your property, since you didn't make these decisions before you died.
>>Isn’t estate planning just for older people or the wealthy?
>>What happens if you don't plan?
>>What can I do to minimize the costs of estate planning?
>>What type of information do I need to have together to plan?
>>My spouse doesn’t like to think about death. What should I do?