[LMB] OT: A PSA
markgoldfield at hotmail.com
Tue Jun 22 17:18:25 BST 2021
Unless all your financial accounts have designated beneficiaries or transfer on death registrations you will be creating a mess for your heirs that a simple will could avoid. Willmaker software is easy to use. Other kits exist. Even more true if you own real estate. And having an up-to-date health care proxy and living will (which is different from the health care proxy) that fits the rules for the state or country you reside in in especially important. General durable powers of attorney probably do not cover medical decisions. And some financial institutions will only recognize their own power of attorney forms. My wife and I have been executors for 2 estates, and helped several friends with others, and it is much more complicated if there are any assets that are not covered by a will or a designated beneficiary.
The advice for everyone to have a will is excellent advice.
Add a health care proxy and living will, and make sure that retirement accounts and anyrthing else that allows a designated beneficiary has up to date beneficiaries and contact information listed will be doing a great favor to your survivors.
On Tue, 22 Jun 2021 12:59:12 +0000, "Harvey Fishman" <fishman at panix.com>
>Well, I do not plan to bother with a will. There really is no one other
>than my sister and two nieces. I do have a durable power of attorney
>enabling her to make medical decisions, but a full will is too complex.
It's so complex that you can get a kit for about 25 bucks to do it
yourself, if your affairs are simple.
I've sold more books about physics than Madonna has sold books about sex.
- Stephen Hawking
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