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Make Sure You Have A Will – If Not For You, For Your Family

Make Sure You Have A Will – If Not For You, For Your Family

By Susan Williams

Benjamin Franklin once said “In this world nothing can said to be certain, except death and taxes.

So, given the certainty of these two situations you would think that putting a will in place would be a natural practice for everyone.

Unfortunately, this is not the case.

Amazingly, 51% of Americans aged 55 to 64 and 48% of Canadians do not have a signed will in place.

Sadly, the recent death of Aretha Franklin has shown a light on this issue.

She too did not have a will in place when she died. As a result, this situation will potentially cause both confusion and frustration as her family tries to figure out how to manage her estate without being given any specific direction from her.

These situations can cause major family relationship challenges and strife.

For example, when Prince died, he didn’t have a will in place either. Even after two years his heirs haveĀ yet to see a any money from his estate. Now it’s not to say that no one is getting any money. The people who are getting some are the lawyers, consultants and advisors as they tried to untangle the mess.

So, if you don’t have a will in place, you probably should. If not for you then for the benefit of your family. They will have enough to cope with after you are gone never mind having to add this situation to the list.

In the following video from BNN Bloomberg, Estate Lawyer, Joseph Gyverson highlights the importance of having a will along with some things to be considered when writing your will.

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Susan Williams is the Founder of Booming Encore. Being a Boomer herself, Susan loves to discover and share ways to live life to the fullest. She shares her experiences, observations and opinions on living life after 50 and tries to embrace Booming Encore's philosophy of making sure every day matters.