A Few SImple Steps Every That Help Protect An Estate

July 17, 2015

Most Americans will die intestate with little, if any, estate planning before death. For the elderly with small estates and uncomplicated family situations dying without a will wont be a problem. But for everyone else, estate planning is a key step to take to prepare for later in life and passing down a legacy to ones’ heirs. Some simple steps everyone could benefit from includes the creation of a living will to dictate end of life medical treatment and establish the identity of decision maker in the event of incapacitation. An up to date will is a must for anyone with significant assets or has property they intend to pass in a manner in conflict with state intestacy laws. Ultimately, many people need estate planning but do not seek it due to their lack of information concerning the risk of faulty or nonexistent planning.

See Dayana Yochim, Estate Planning Checklist: How to Protect Your Future, Your Family, and Your Property, The Motley Fool, July 15, 2015.

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Estate Administration and Estate Planning - Generally