Isn’t It Time You Got A Will?
At the end of each year it’s smart to have a personal financial inventory, to make sure all your current financial information is assembled in one place in the event of an emergency. This is especially true if you own a big-ticket item such as real estate, whether that real estate is a personal residence or a portfolio of investment properties.
I bring this up because you just never know when an accident or illness will be disabling, or that one time when we each must pass. If you do not get your paperwork in order than a state government is likely to control your assets — and most likely in a way which you will not like and which will cost big money.
The good news is that wills and living wills are not just for the rich. They’re for everyone and they’re important because whatever you have should be protected against needless taxes and estate costs.
Certainly it makes sense to speak with an attorney and a tax professional. In particular, you might want to contact a lawyer who specializes in elder law. No, such services are not free, but they’re likely to be vastly less expensive than the cost of not having a will or living will.
To get a better understanding of the issues we all face — and to have a better of idea of what you might want to ask lawyers and tax pros — get a copy of attorney Stephen Maple’s book, the The Complete Idiot’s Guide to Wills and Estates. It comes with a disk for drafting your own forms.


