I went to a new CPA to give him my business taxes, and he stopped me cold with this question: Do you and your husband have wills? When I answered “no” he stated, “Do you know what happens when you die without a will?” Ouch. I do know, and it’s not pretty. Dying without a will means your say gets to decide what happens to your estate. This may or might not be what you want. Even if it is, it means there will be many months, and lots of hassles, between your death and the distribution of funds. If, like us, you have a second marriage, it gets even uglier. Here is one short list of possible problems, from Senior Magazine On the internet.
We have been “talking about it” for some time, and we even started making lists of assets and started allocating beneficiaries. So now we’ve to do it. And so do you.
My CPA said, “Don’t do it yourself. Go to an attorney.” I’m calling mine in the morning.
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