Contrary to popular belief, one does not have to take the time and itemize every single item or artifact they have acquired through his or her lifetime. All one has to do to ensure their loved ones inherit their worldly possessions is to set up what is commonly referred to as a “simple will.” It’s simple because it is direct and to the point.
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During their lifetime, people acquire many assets. These assets often include real property such as houses and land. They also may have a large amount of cash in savings accounts and CD’s, as well as stocks and bonds. If a person becomes ill and cannot provide for him or herself, they may need to be placed in an assisted living program. When this happen, your assets may not be safe, no matter how many or few you have.
People tend to not like dealing with dreary matters such as preparing for the death of themselves or a loved one. While it is understandable to avoid such topics, it is in one’s best interest to take a proactive approach in dealing with their future demise.
Once people already have their Wills in place, they often find themselves in a position where they want to change or add a particular provision. The easiest way to go about adding a new stipulation to one’s Will is to draft a Codicil.
When deciding to create a will, a person does not have to be in their “Golden Years” to do so. In fact, the earlier a person puts a will in place, the better off they will be in terms of the overall security of their family’s best interest. This article can help you get started.