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137 Past Due – Do-Overs: Getting A Will

by Derek Sisterhen on December 24, 2010

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Past Due: Radio 137 – Do-Overs: Getting A Will

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Remember when you’d yell, “Do over!” while playing games as a child? It was so easy to have a second (or third, or fourth) chance back then. We’ve surveyed our listener base on a few occasions to find that nearly 75% do not have a will or updated will in place.

Today, I discussed the do-over that so many of us haven’t learned from yet. It’s time to get a will in place and I answered some key questions regarding this part of your financial plan:

1) What priority should be given to a will or estate plan? You might be surprised how critical this is – I believe it should be the very next thing you do after establishing a beginning emergency fund.

2) What should I consider when doing a will? The two big questions to answer when preparing your will and estate are: 1) What happens to my children? and 2) What happens to my assets?

I also shared a couple of stories that validate using an actual attorney for this rather than an online service, and show how disastrous the outcome can be if you don’t have these bases covered.

Note: I got on my soapbox early in this show. If I offended you, I apologize. If it makes you go out and get a will, then my mission was accomplished.

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