Life isn’t fair, and neither is death. When you sit down to plan out your demise, you’ll most likely find yourself picking and choosing among your descendants to give the better stuff to whom you deem to be the most worthy and competent.
While everyone should have their financial and legal affairs in order in case of sudden and untimely death, reader Charlie has to worry about this much too early in his life. He’s been told that he has only a few years to live, and wants to begin planning now to make his passing easier on his family and to provide for them.
According to Bankrate, 57% of Americans do not have a will, leaving their personal finance, guardianship of children, and many other end-of-life decisions in the hands of strangers (state judges.) The lynchpin of a solid estate plan is having a will, but Vanguard suggests you also need the following assembled to leave your loved ones in good shape following your death:
When a new baby arrives, there’s not much time to do anything extra, but if you have a will you should review it and update it as necessary. The Associated Press is reporting that “Heath Ledger’s will leaves nothing to his former girlfriend and their 2-year-old daughter because it was never updated after they became part of his life.”
Reader JP, sends us this little tidbit about accessing online information after someone has passed away. From CNET: As more and more people move their lives, address books, calendars, financial information, online, they are taking a risk that some information formerly filed away in folders and desks might never be recovered. That is, unless they share their passwords, which poses security threats.