If you are one of those people who are avoiding it, you really need to write your will. It is really important that you plan ahead for your family! Be as specific as possible to avoid any confrontations down the line.
If you are struggling, here are some more tips to help you plan your will.
Remember that you can give people money without worrying about taxes. Most people don’t want to give their family members money because they worry about the income taxes. However, for most people, they won’t have to pay any taxes on money that they inherit. If you are concerned about it, seek legal advice.
Have all of your papers in a safe place. Even though your retirement accounts, life insurance, and other important papers don’t need to be in your will, they should be close by and easily available. Make sure that they all have a beneficiary so that your family can use them.
Don’t forget about a living will. Though you may not need it at your age, it doesn’t hurt to have a living will. This gives your family members instructions in case you are seriously injured. If you don’t want any drastic measures taken, make sure that your living will is up-to-date.
When planning your will, make sure that all of your other paperwork is in order (and easily found). You may also want to write a living will if you have specific instructions that you want taken in case of an injury. Don’t avoid giving people money just because of taxes. If you are really concerned, seek legal advice to ensure that your family members will be taken care of properly.
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