CHAPTER 25
Will It? 쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆
“The only real thing of value we can give our children is what we are, not what we have.”
Do I Need to Read This Chapter? ●
Have I been putting off the making of my will?
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Am I aware that more than 6 out of 10 Americans will die without a will?
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Am I confused by all the legalese surrounding wills?
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Have I been named an executor of a will? Am I clear on my duties?
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Have I taken those duties into account when naming my own executor?
his chapter is essential, because out of all the possible threats to your family’s assets (inflation, downturn in the market, etc.), only one is definite—and that is your death. I have discussed, in previous chapters, topics ranging from financial planning for young children through financial planning for retirement. Now this chapter completes the life cycle.
T
By law you have the right to own property, to use it as you wish during your lifetime, and to determine who shall receive it after you die. Everyone makes use of the first two rights, but many give up their third property right by failing to write a will. Did you know that more than 6 out of 10 Americans die without a will? This is a shame, because without one you lose control of your estate. This loss affects not only the disposition of your property, but also the people who should receive your property after you die. Writing a will is a way of taking care of the people you love in a time when you will not be there.
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