This past year I have spoken with many people regarding the importance of life insurance to protect their family financially in the event of their untimely death. From these conversations I have been surprised at how few families have a Will or Trust in place. A Will is a simple and inexpensive legal document that can save your family from additional stress, and possibly legal expense, after your passing.
The most common problem I see involves families with young children. If both parents are killed in an auto accident, for example, who will become the guardians of their children? And if you have assets such as a home, savings, or life insurance, who is the beneficiary of these?
Becoming the guardian for your children is a big decision and it is one you should have a conversation about. Wouldn’t you also want the guardian to be the beneficiary of your assets to aid them financially in the care of your kids? Of course you would, but this might not happen if left up to a probate court. I have witnessed crazy outcomes following the death of someone. Family and friends come out of nowhere sometimes making claims on the estate. The good news is this is easy to prevent if you have a Will, and with the internet it can even be inexpensive.
Of course, if you have a lot of assets, you might want to consult with an attorney.
So if this describes you; get it cleaned up! If you have questions or need help, please contact me at (805)985-5488 or email me at joliver@farmersagent.com
The most common problem I see involves families with young children. If both parents are killed in an auto accident, for example, who will become the guardians of their children? And if you have assets such as a home, savings, or life insurance, who is the beneficiary of these?
Becoming the guardian for your children is a big decision and it is one you should have a conversation about. Wouldn’t you also want the guardian to be the beneficiary of your assets to aid them financially in the care of your kids? Of course you would, but this might not happen if left up to a probate court. I have witnessed crazy outcomes following the death of someone. Family and friends come out of nowhere sometimes making claims on the estate. The good news is this is easy to prevent if you have a Will, and with the internet it can even be inexpensive.
Of course, if you have a lot of assets, you might want to consult with an attorney.
So if this describes you; get it cleaned up! If you have questions or need help, please contact me at (805)985-5488 or email me at joliver@farmersagent.com
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