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Although Death And All The Steps Leading Up To It Are Not Pleasant To Think About, It Is Important To Come To Grips And Understand The Entire Process And What Needs To Be Done. Welcome To TheFinalRest.com. This Is A Free Information Resource That Will Help You And Your Loved Ones Deal With Death, Grief, Funerals, And Legal Matters. As You Explore This Site, You'll Discover...
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Retirement Planning and Wills
Author: Jason Bauder
To will or not to will, Do's and Don'ts in making a will
First things first, you should have a will. Wills not only do the obvious: distribute wealth and possessions to loved ones; they also leave an impression on how carefully one has managed his or her estate especially for those left behind.
The following are things one should and should not do in making a will:
Do update your will
Everything changes. Possessions, money can increase or decrease. Estate tax laws change in a whim thanks to Congress. The IRS can just as well alter these laws depending on whose side they are on and how they interpret it. There are varying laws in each state. It is important to evaluate every major change in your life. Doing so could change your will for the better and your death a lot more peaceful.
Do name the correct executor
Executors should be ethical, honest, and efficient and be ready to give his or her service at the drop of a hat. Ensure that the potential executor has been properly briefed and that his or her consent has been received. It also helps to have one or two alternates. It is also suggested that one name an executor younger than yourself. The point is to lessen the chances of having an executor die before you do.
Do not name the same person as guardian and trustee
It helps to not name the person you entrust with your children with the same person you entrust with your money and finances. Having different people fulfill these varied responsibilities is important. It keeps the system in balance and each person doing the role he or she knows best what to do.
Do not leave too much for a spouse
Leaving money that is more than sufficient to your spouse is not a very good idea. It takes away wealth that your children should just as well have and you will not be able to monitor your finances if all of it is entrusted to your significant other. Depositing some of your financial wealth to a trust is one way to keep it growing.
Do not be too specific
Some families fight as to who gets the blender and who gets the kitchen sink. It is important to not be too detailed in your will as to who gets what. Being too specific could result in unnecessary and costly problems later on. It is advisable to entrust a group of your possessions to a person than listing down which item will go to whom. It saves time and is more efficient, reasonable and sensible.
About the author:
Jay is the web owner of http://www.retirement-in.com Retirement Community, a website that provides information and resources about retirement, from retirement planning and calculation, to state retirement systems and retirement homes. You can also visit his website at: http://www.thepersonalinjurylawyers.com Accident
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A Quick Note
From The Publisher...
If you like the article above, you may be
interested in the following article which is also related to Death...
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Legal Wills In America - A Top Priority |
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For most of us, life is hectic and we often put important issues such as preparing a legal will on the back burner. It is not a topic that most people like to think about, but the reality of having a legal will is extremely important and should be made a top priority. Why are legal wills so important? Legal wills determine who controls your estate after your death and identify who will inherit your estate. If you die without a legal will (Intestate), the Court will appoint an administrator, and State law will determine who is entitled to your estate and the amounts they will receive. Wouldn't you rather take the time to choose an executor (trustee or personal representative) to be in charge of your estate? If you die, and your spouse is also deceased or unfit to act as the parent of your children, the Court will appoint someone to care for your kids. What if the appointed person is not an individual you would trust as the guardian for your children? Not... |
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Paterno's death met with grief in State College Joe Paterno's death from lung cancer Sunday just two months after his firing left many Penn State students, alumni and community members numb with grief and a sense that the legendary coach deserved better from the university after such a distinguished career. "His legacy is without question as far as I'm concerned," said 65-year-old Ed Hill of Altoona, a football season... Dench's hectic workload helped ease grief after husband's death Dame Judi Dench has credited her film career with helping her deal with the grief she suffered following the death of husband Michael Williams. Judith Johnson: The Death and Dying Series Part Two: Grief in the American Workplace Remember, grief is normal and if you think you need some help and compassion, you don't have to be alone in your grief. But you do have to reach out for help. You might be surprised by the resources available. Grief, tributes on PSU campus after JoePa's death Joe Paterno's death from lung cancer Sunday only two months after his firing left many Penn State students, alumni and community members numb with grief and a sense that the legendary coach deserved better from the university after such a distinguished career. ANN ARBOR: Kite Network grief support organization grows, graduates first clients (with video) Sue Ferrell wasn't sure what to expect when she first sought help from the Ann Arbor-based nonprofit The Kite Network about a year ago to manage the grief she was experiencing from the death of her son's fiancé to a drunk driver. But one thing she knows for certain is that she is coping better today. Death met with grief at college Joe Paterno's death from lung cancer Sunday so soon after his firing left many Penn State students, alumni and community members numb with grief and a sense that the legendary coach deserved better from the university after such a distinguished career. |
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