You might be surprised at everything that needs to be done…
Whether you already have a will, are in the process of having one prepared, or do not have one at all – here are a few lesser known issues that you should consider when taking care of your estate.
6 estate-planning issues to consider
- Do I really need a will?
You may wonder, if all of your assets are designated to a beneficiary or are in joint name and you don’t have any dependents, do you still need to have a will and appoint an executor?
Yes. Someone still has to instruct the bank to transfer over the assets to the registered beneficiaries or to the person whose name was also on the joint account. If you are single with no dependents, someone will still have to notify the landlord that you have died and arrange to have your furniture sold or donated. There are many more issues like these that have to be dealt with so it is important to have a will and appoint an executor even if you have simplified your estate.