This is an important question to ask, because the answer could tell you whether you need to worry about estate taxes, beneficiary issues or probate concerns.

A will allows you to distribute your worldly goods, select a guardian for minor children and name an executor to carry out your wishes.

Picture this…your child is in the hospital, but the on-call doctor won’t talk to you let alone allow you to weigh in on medical decisions. While hospitalized, your child’s bills are going unpaid because you can’t access their accounts—potentially wreaking havoc on their financial credit. Why? Because they’re over the age of 18.

Creating a list of digital accounts and instructions on how to gain access to them is now akin to having a traditional will or a trust in estate planning.

Most family members may not have a clue what we have floating out in cyberspace. Accessing or deleting accounts can be tricky for family members, if they don’t have your login credentials.

These are among the things an estate attorney can help you with planning. That’s why it’s essential to ensure you have one by your side, if you’re leaving an inheritance behind.

My ex-husband passed away. However, I was named the beneficiary on his 401(k). Even though we are divorced, do I still have a right to it?

Both help you pass down assets, while avoiding the time and expense of probate. However, one has much more flexibility than the other.

Estate planning is a key piece of a comprehensive retirement plan.