Deirdre Wheatley-Liss Quoted in Premier Reverse Mortgage's "Four Things You Should Know About Your Will"
Thinking about our own mortality can often be an uncomfortable pastime, but we may find ourselves doing it more and more as we age. Naturally, we don’t have a lot of control over the circumstances and time of our deaths, but proper estate planning can give us a bit of say in what happens afterward.
Deirdre Wheatley-Liss, certified Elder Law Attorney and author of Plan Your Own Estate and the New Jersey Estate Planning & Elder Law Blog, says start by taking an inventory.
"Start with the questions of “what is my stuff” and “who are my family.” If a Will disposes of your assets, you first need to have a list of what those are. Keep in mind that some asset have a beneficiary designation (like life insurance, an IRA or 401k) and these will go to the named beneficiary outside of the Will. When you consider who your family is, think of everyone you might like to benefit. This will allow to you to assign either specific assets or percentages of your estate among your loved ones."
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