Everyone should do some estate planning.

Everyone—regardless of how small their wealth—should do at least some estate planning. 

Some things to consider include:

• A will: This is the most basic of estate-planning documents, yet a Caring.com survey this year showed that more than half of Americans don’t have a will. That’s surprising and troubling all at the same time. A will can provide certainty and clarity and eliminate  the grey areas when property is moving from one generation to the next. Don’t just assume everything will end up with the people you want it to if you fail to leave specific instructions.

• A trust: Not everyone needs a trust, but it often makes sense. Basically, a trust allows you to control your assets from the grave. You can set certain restrictions, which is especially helpful if your kids are young or they don’t really manage money well. That way you may be able to keep them from blowing their inheritance all at once. For example, a restriction might be that they don’t receive the money until they earn a college degree.

• Power of attorney: It’s important to assign someone power of attorney so that if you become incapacitated that person can speak on your behalf and sign important documents. You can also have a living will to outline your wishes, which could help your family make tough decisions about your healthcare.

If you don’t plan for your long term care who will?

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Top 5 Regrets of the Dying

Compare this list with your list:
5. I wish that I had let myself be happier.
4. I wish I had stayed in touch with my friends.
3. I wish I’d had the courage to express my feelings.
2. I wish I hadn’t worked so hard.
1. I wish I’d had the courage to live a life true to myself, not the life others expected of me.

Top 5 Regrets of the Dying
Through her work Bronnie Ware weaves delightful tales of real life observations and experience. Using gentleness, honesty and humour, Bronnie celebrates both the strength and vulnerability of human nature.
Bronnie’s Book on Amazon


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