The Planner's Perspective: With Estate Planning There Is Always A Plan, Even If It Isn't Yours

It’s true that we will all die at some point, so one would assume that proactively addressing this risk would be a universally accepted concept, however, over half of all Americans still do not have an estate plan. From a legal standpoint you can either die with a plan or without one. What many fail to realize is that if you elect the latter, the state you die in has ‘intestacy laws’ which dictate how your assets are divided whether you would have intended it to happen that way or not. Many families have the good fortune of having one or more competent, healthy and trustworthy children, but intestacy laws do not always work in the way you would assume.
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