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.

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