I recently attended my son’s class celebration and during the event I started talking to one of the moms. We exchanged the normal pleasantries and started talking about our boys and life in general.
In the course of the conversation I learned that this lady was a widow and her husband passed away a little over a year ago, leaving her and her son behind. She told me she was in the process of trying to sell her home and relocate but “things” were stuck in court proceedings.
I quickly looked at her and asked, “I guess your husband didn’t have a will?” She nodded her head and said they talked about making a will so many times, but things just got in the way, life was busy and they really never thought it would be needed, especially not at such a young age. Here she was, trying to put her life back together while having to deal with courts and rulings.
All of this frustration could have been avoided very easily with a simple one-page document created at home and then signed by a few witnesses. No lawyers, and no expensive attorney fees.
Regardless of the size of our financial assets, all of us should have our financial house in order. Even though it sounds like a daunting task, it’s really quite simple and most of the work can be done at home over a weekend.
Those who have spouses and children should pay special attention since this advice, if applied, can not only give peace of mind now, but also spare you, your spouse or other family members from unnecessary frustration and lengthy court battles in case something were to happen.
Source: Crosswalk | Megan Pacheco, Finicity