Creating your Will online might seem like a perfectly normal thing to do since many things can be done on the internet. Among the many things that we are able to successfully accomplish online, a Will just isn't one of them. You can create a Will through one of the many website that allow it but the problem is whether the will is good enough. Having a Will that won’t work can put you and your family in a very difficult situation. Here is why an online DIY Will isn’t going to work.
Planning for retirement is the best ways to make sure that you are financially stable in the future when you won’t be earning an income. This planning includes more than putting aside a certain amount every month, it is more about figuring out how much to save depending on many different factors in your life such as the economy or medical emergencies. Here are some of the most important factors to consider when planning for retirement.
Creating your Will online might seem like a perfectly normal thing to do since many things can be done on the internet. Among the many things that we are able to successfully accomplish online, a Will just isn't one of them. You can create a Will through one of the many websites that allow it but the problem is whether the will is good enough. Having a Will that won’t work can put you and your family in a very difficult situation. Here is why an online DIY Will isn’t going to work.
The last thing you want is your family fighting after your death because you didn't create a proper estate plan. This is very common, especially when there is no Will or Trust to clarify who was given what. The good thing is that it can be easily avoided through estate planning. It is one of the most important things you should do so that your family is not having a difficult time, especially if you have a blended family. Here is a perfect example of what you want to avoid.
There is a lot more to estate planning than passing down material wealth to your loved ones. It can also be used for to ensure your wishes are properly carried out exactly the way you plan. Through this valuable process you may pass down values that might not be possible in any other way or through any other person. Here is the inspiring story of author Amy Krouse Rosenthal that shows the importance of passing over more than material wealth to your family.
Having a trust isn’t enough, you need to make sure it is the right trust that will work for your loved ones. This trust is going to be a major player in their lives after your death and if you don’t create it in a way that will help them, it will create more stress for them. To make it easier and more efficient for your loved ones, you will need to make sure you have your trust set up the right way.
The lack of estate planning has lead Aretha Franklin’s family to lengthy court battles, major expenses and great amount of stress. Although a will would have been helpful, even a will could not have saved Aretha Franklin’s family from going to court, because of the size of her estate.
Regardless of your financial status, planning for incapacity or your eventual death is something that you should immediately address, especially if you have children. Here's what Aretha Franklin’s death taught us.
Talking to your children about money is a very important task and should be done in different stages. This conversation doesn’t happen all at once in one day, in fact you will need to consider their age before talking about family wealth and how it plays a role in their life. Here is how you should approach each stage when having “the money talk” with your children.