How to Quickly Prepare a Proper Will
Let me explain what the trick is about wills.
Simon had no clue how to divide up his estate. He was going on a trip to Dallas and wanted to make a will before he left.
He wondered, “If I leave $25,000 to Billy and $25,000 to Sally, will there be enough money in my estate to come through on my promises?”
Let me share this secret with you about what Simon should do.
No one knows for sure exactly what their estate will be worth. That’s why you should think of dividing your estate in terms of percentages or, better still, shares. This is a lot easier than figuring out “how much will I have left for each person?”
Leave 5% or, even better, five shares, for Billy and five shares for Sally.
Remember this, though: Without a will, your estate is distributed not as you wish but as the government decides.
If you do not have a will, you have no say in who gets what and who is in charge of your affairs.
Posted In: Estates, Wills On: November 11th, 2010