A will doesn't cover all your bases for end-of-life decisions. Here's what else you need
However, a will is just one piece of an "estate plan." An estate just refers to what you own — your financial accounts, possessions and any real estate. Putting a plan in place for those assets helps ensure that upon your death, your wishes are carried out and that family squabbles don't evolve into destroyed relationships.
This means the person named as a beneficiary on those accounts will generally receive the money no matter what your will says. . If you own a home, be sure to find out how it should be titled to ensure it ends up with the person you want it to, because the laws can vary from state to state. Moreover, there can be other considerations when it comes to how a house is titled, including protection from potential creditors or for tax reasons later when the home is sold.As part of the will-making process, you'll need to pick an executor of your will .
"There's risk in doing it that way," Davis said. "Those forms or software may not be compliant with your local law, so look at the fine print." offers a guide to laws and accommodations in every state if in-person meetings are not permitted due to the pandemic.Typically, estate planning also includes preparing a few other legal documents. This includes an advance health-care directive, also known as a living will.Say you are on life support. Instead of a loved one making the agonizing decision whether to end all life-saving measures, your wishes would be specified in a legal record.
As with choosing an executor, make sure whoever you hand the financial reins to is trustworthy and smart.
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