Why You Need a Will Ebony (08/00) Vol. 4, No. 7 p.26; Tapas, Tina D.
Wills are a fundamental and essential part of the
estate-planning process that often gets overlooked.
Atlanta-based estate planner Olin Wiley says most people avoid
the subject because they do not like to talk about dying. Wiley
and other experts say even the most basic will can spare the
surviving relatives the expense and trouble of handling their
loved ones' estate after they have died. As previously
mentioned, a will is the most generic form of estate planning
available. They determine the dispensation of a person's assets
and stewardship of surviving children. Another way to provide
peace of mind for your relatives is to order a living trust. At
a cost of between $500 and $1,000, this document allows a person
to place practically any type of asset in it, including bank
accounts, bonds, life insurance, and stocks.