Wednesday, September 28, 2016

Do only high net worth individuals need a will?

Traditionally, the answer to that question has been “Yes” — particularly if you have a spouse and child. Lately, though, some financial advisers have been saying that many Americans might not need a will. “Certainly the simpler you are, the less of a complex estate plan you need,” says attorney Jeffrey Greener. “But very few people are simple. If you have minor children, only a will names a guardian for those children. A will or a trust will allow you to name someone to watch over assets for a disabled or elderly family member or someone who may not have the financial sophistication to manage those assets.”

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