But what happens to our spouse or children when we die? What happens to our home, car, savings account? Often people make assumptions about what happens to our estate upon our death, for instance that our spouse automatically receives all of the inheritance, or our children do if we have no spouse. Sadly, families are often mistaken in these assumptions, and end up losing much of their rightful estate ... if only the deceased had created a will. It is also imperative to have clear legal documents regarding the care of any minor children in the event of our death.
Here is a self-assessment on the topic of wills and estate planning. How many of these can you answer affirmatively? If you'd like to learn more you may follow the link below.
- I have a will or living trust.
- My immediate survivors know where my will or trust is located.
- My executor is still capable and qualified to serve.
- I have appointed qualified guardians for my minor children.
- My executor can find the information necessary to settle my estate.
- My attorney has recently reviewed my will or trust to ensure compliance with tax changes.
- My survivors’ financial needs have been reviewed.
- My minor children’s financial benefits are provided for in a trust.
- My survivors know who to consult in decision-making situations.
- I have made my specific charitable wishes and bequests known.
You can follow this link for more detailed information on wills, trusts and estate planning from the United Methodist Foundation of New England. There are also brochures available at church.
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