The act of passing from one to another.
Our Legacies can vary:
From the remaining money in a checking account
To a Multi Million dollar estate.
How we plan to pass it to our heirs needs to be done with some planning.
Reading the Tabloids, you will hear about Celebrity Stars that have died intestate. Without so much as a will. It then goes into Probate. The longest one that I know of lasted 23 years. That was for Robert Johnson, an Illiterate Blues musician. After his passing, he continued to make millions from his music. With several children from several women and not so much as a will. He had a nightmare of an estate problem.
And it is too common for many people.
Assuming you will have assets to pass.
Discuss with your family and attorney’s how to best past your estate.
Consider the charities that are of interest to you.
Make those decisions while you are still well and healthy. After your passing, nothing can be changed.
This conversation will be continued on the following pages of Beneficiaries and Will & Trusts.