thefemaleprofessional.com

Making a Will – 10 Things You Need to Know

According to one study, over 68% of Americans do not have a will. But that is changing. In 2021, young adults are 63% more likely to have a will than they were pre-pandemic. 

1. What happens if you pass away without a will?

If you pass away without a will, you and your loved ones will not be in charge of how your assets get distributed.

2. Some assets are distributed regardless of what your will says

The person named as the beneficiary on these types of accounts will generally receive the asset regardless of what your will states.

Terrain Map

3. You can set up a will for free, but beware of the limitations

If your life and assets are more complex, it may be wise to enlist the help of an estate planning attorney.

4. There are other documents you should consider besides just a will to protect you and your family

White Bag

If they know how to access bank accounts and insurance contacts that are normally taken for granted.

5. Name guardians for your children

If you are a parent, you will want to make sure you use your will to name guardians for your children.

For More Info Visit The Female Professional

Other stories

Ibotta Review: One way to Save On Your Day to Day

Frugal Living Tips To Save Money When You Have a HCOL