Wills
I don’t have much. My kids are beneficiaries on my small investments and I have a TOD for my condo. Why would I need a will?
Terry Says
Do you have a health care power of attorney — someone authorized to act and make decisions if you can’t (think stroke or Alzheimers)?
Do you have a business power of attorney, authorizing someone to make withdrawals to pay for perhaps a private nurse? Or in case of extreme need, to sell your house (while you are alive but incapacitated) to pay for long term custodial care??
Your kids can’t be “beneficiaries” unless ALL your investments are in IRAs or other retirement accounts. They would have to be in joint name titled accounts.
Please consult an attorney who can remedy these situations before it is too late.
