Michael Chamberlain, CFP, AIF, Contributor

Unfortunately, only about 45% of adult Americans have estate-planning documents. Generally as one accumulates more assets as well as gets older, the probability of having estate-planning documents increases.

When you die without a will or trust, the State in which you reside has laws that determine to whom your assets will go. This may or may not be what you want. But since you did not have your wishes recorded properly, you do not get a choice.

Those that don’t have state planning documents are dictating your family be exposed to the following:

  • Subjected to the expenses of attorneys and courts,
  • Waste their time,
  • May not receive what you wanted them to receive,
  • Become frustrated and
  • After all that, they may well curse you for not having done the right thing by having obtained the documents before they were needed!


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