Living to DieCategory: Education
Article added by: Bill Dimatti
Do you have a will? Do you know where your assets and money will go when you die? Who will pay your bills? Who will take care of your home or you cat Susan?
Most of us know the answers to these questions. We live life as if we will never die and when that day comes our family is not only stuck with the grief of our loss, but they are also lost with the grief of taking care of our debt.
Thinking about making your own will may make you feel a little uneasy. After all, a will is basically what goes into affect when you die and you don’t want to think about your death, but the truth of the matter is that we will all die and it is better to die knowing that your home, investments, and personal items will be given to your loved ones.
In a will, a person or "testator" expresses, in writing, what he (or she) wants done with his property after he or she dies. Most states require wills to be signed by the testator and witnessed by two people. "Probate" is a court proceeding in which final debts are settled and legal title to property is formally passed from the deceased person or "decedent" to his heirs. Probate proceedings take place in the probate court or surrogate court in the county of the decedent's legal residence at the time of his death. If a person dies "intestate," meaning "without a will," state law determines how to distribute his property. It is better to have a will than to die intestate this way you will have the say in how your property is distributed.
There are several types of will that can be prepared on your behalf. You don’t need an attorney to prepare a will for you, but in my opinion it would be better. The decision is up to you as to whether you will be prepared for that final day.
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Posted By: Bill Dimatti
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