Most people were surprised to learn Aretha Franklin died last month without a will. Aretha is the latest of a surprising number of celebrities and wealthy people who die without a will. Some reports have suggested that 65% of individuals that pass away do not have a will. What happens on your death is not an easy subject for anyone to discuss. Oftentimes it is difficult to face your own mortality. However, making a will and handling your estate matters while living can be your final legacy to your family.
No matter what the size of your estate, making a plan for your estate and preparing a will can make the task for your family easier. A will allows you an opportunity to designate who will receive your assets, appoint an executor, nominate a guardian to care for minor children and provide a trust or other vehicle for certain beneficiaries to have their assets protected.
As part of your estate planning review, the attorneys at Manning Fulton perform a comprehensive approach that incorporates a review of all of your assets and beneficiaries. Your estate plan may include other components in addition to a will such as a trust, power of attorney and health care power of attorney with a living will.
