Estate planning is not just for the wealthy. Anyone with a bank account, house, car or other personal property should have a will.

There is no legal requirement that anyone give anyone else money or property when they pass.  The law says that as long as you understand what you’re doing, you can give your assets to anyone you feel like giving them to, equal or not.

Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You—and the people you love—will be glad you did.

I’m looking for guidance on where to start with planning, in case something happens to me or my husband.

What Is a Testamentary Trust?

Retirement accounts fall into a category of assets that pass to heirs directly outside of the will and are not subject to probate. That is, if the paperwork is in order.

An executor is the person whom you name to handle the settlement of your estate after you die, taking your estate through probate, a court-supervised process that winds up your affairs in the state where you were living at the time of your death.

Your estate plan should certainly be revised, if you have gotten married or divorced.

What will happen to your assets when you can no longer manage them?

According to a recent Gallup poll, a little over half (54%) of adults in America don’t have a will.