ESTATE PLANNING TIPS AND TRAPS

Posted on April 11th, 2022 in Budgeting, E-Newletters, Education Planning, Estate Planning, Financial Prosperity Series, Insurance, Investing, Lending, Life Events, Retirement, Tax

Julia wants to make sure that her estate passes to her heirs with as little hassle and cost as possible when she dies. She knows she needs a will and decides to buy a do-it-yourself will kit. When she opened it, she soon discovered some serious shortcomings.

Advertised as a ‘legal will kit,’ she learned that the term ‘legal’ simply means that the kit does not break any laws. A disclaimer on the first page states that the publisher assumes no responsibility for the validity of a will prepared by the purchaser. Julia certainly wants her will to be valid, so she decided to have a lawyer prepare it.