Over your life time you worked hard, saved your money and invested wisely. Now you have created an Estate for your loved ones or charity. First step is to sit down with competent advisors and figure out just what you want to do with what you have created.
Check out what some experts say about how to structure your Estate Plan and Wills…
Estate Planning: Wills – Bloomberg: Your Money
So, how important is it to have a will? It’s very important, assuming you want to maintain control of your assets and avoid the court system. But, before you grab a sheet of paper, you need to understand what should be done to make sure your will is effective and valid.
Estate Planning — Review Your Living Trust Every 4-5 Years
Mitchell R. Miller — a tax, trusts and estate lawyer for 30 years — talks about the need for reviewing your living trust every 4 or 5 years.
State and federal laws change and your circumstances may have changed. Make sure your living trust reflects these changes.
As you heard it is never too early to sit down and get your affairs in order, your loved ones will greatly appreciate not having to deal with such issues at your death.