Thinking about your eventual death isn’t very comfortable for most people, and is probably one of the leading reasons why so many people die without making proper arrangements. It’s obvious that a wealthy individual like Prince should have taken the steps to prepare a will and other documents to make sure his wishes were respected upon his passing. But the same can be said for anyone who has accumulated even a modest amount of assets, and wants to leave gifts to family members and loved ones. This process is called estate planning, and the term “estate” sometimes misleads people into thinking that it’s something only the rich and famous need to be concerned about.
In my latest article, I explain some important facts that everyone should know about the estate planning process. Click here to read Estate Planning Basics: 5 Important Things to Know.