The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Death||Date: 3/31/2013 3:25 PM|
|Author: Donna405||Number: 71602 of 82858|
There are too many "What if's" to consider before preparing a Will.
First, what can you do to make the transition easier for the spouse? First, you might want to check into the idea that title to your property is in "Joint Tenants with Right of Survivorship" (JTROS). In most states, this would have your home free of probate. The spouse would only have to file the Death Certificate in order for the transfer to be completed.
However, for any personal property you would still need a Will. Do you have any investments accounts? If so, you should have a direct beneficiary for same? Have you prepaid your funeral? Do you have insurance to cover the funeral expenses?
In addition, you might want to explore the fact that if one of you has a long-term, terminal illness which requires nursing home care, what happens to your assets.
Get thee to an attorney. Remember, a penny saved can be a pound foolish.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|