There are plenty of reasons why people do not write wills, as evidenced by the fact that most people don't have one. Some think it will cost too much. Others do not know where to start. Others think that they don't have enough assets for it to be important. Still others think that it doesn't matter if they have one or not.
The difference between an estate executor and a power of attorney
When getting started with your estate planning, it is wise to break down some of the main terms and ideas so that you can know what options you have. Today we will take a look at the difference between an estate executor and a power of attorney.
Should you discuss your estate plan with loved ones?
Creating your estate plan lets you lay out the legal plan for what you wish to take place when you pass away. This is only part of what you may need to do to take care of your loved ones when you're gone. It might be beneficial for you to speak to your loved ones about the contents of the estate plan.
Are you allowed to disinherit your spouse?
You know that you're not legally obligated to leave your possessions to your heirs, and you can disinherit people who expect to get money or other assets from you in your estate plan. But does that right extend to your spouse? Can you cut your husband or your wife out of the estate plan?
Writing a will gives you peace of mind
There are plenty of reasons to write a will, and maybe you've mulled over a lot of them already. You have significant assets that you need to sort out. Your children want to know what they should expect to inherit. You want to figure out what the tax burden of your estate looks like. You're a business owner and you need to decide what to do with the company.
