If you don’t have a will, the laws of most states provide for intestate succession. Some people are surprised to find that if they have a wife and children, only half goes to the wife, and the other half goes to the children, so that might be what you desire to do ... .
We talk about powers of attorney. Your will takes over if you die, but if you’re disabled you need to appoint a power of attorney to pay bills, do your banking, sign checks, those kinds of things, so that’s a document that we usually prepare for people.
And then there are health care proxies and living wills. The health care proxy designates someone to make health care decisions in the event that you’re not able ... .
Even for young people, you never know. Somebody walks down the street and gets hit by a car, and has the same issues they might have had if they were 85 or 90.
Laurence Keiser
Stern Keiser Panken & Wohl
Lawyer, CPA, estate planner
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