You are here: Home Planning Ahead Wills 101 Summary
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

Summary

Next »

1/16

A Will is a legal document which controls what happens to your property, and property in which you have an interest, after your death.

Regardless of your health, wealth, or marital status, it is important to have a challenge-resistant, legally valid, up-to-date Will. This document is about the basic reasons for creating a Will. It also covers how to write a Will, including what can and cannot be done in a Will.

After writing a will, store it in a safe place that is accessible. Check it periodically to be sure it is up-to-date. 

If you have a Will, consider whether it needs to be updated.

NOTE: In addition to a Will, it is advisable to:

  • Write a list of "who-gets-'what", and to update it at least once a year.  A list of "who-gets-what" covers the items that don't have a lot of monetary value but may be immense sentimental or historical value. Without such a list, items you think of as valuable may end up in the trash or at the local thrift store, or even end up with the wrong person.
  • Write a List of Instructions which gives people practical information in case you become incapacitated or die. For example, the List tells people where your property is located, and how to maintain it.
  • Make sure your pets are taken care of if you don't specifically include them in your Will.
  • If no one will be living in your home immediately after you die, ask a trusted person to look after the property while it is vacant. Empty houses invite vandalism. Damage from a storm or leak which isn't taken care of can be devastating. Don't rely solely on Homeowners Insurance.

Please share how this information is useful to you. 0 Comments

 

Post a Comment Have something to add to this topic? Contact Us.

Characters remaining:

  • Allowed markup: <a> <i> <b> <em> <u> <s> <strong> <code> <pre> <p>
    All other tags will be stripped.