Tuesday, June 30, 2009

Where there's a will, there's a way!

There are many lessons to be learned from watching the saga surrounding Michael Jackson's death. The news of the day now centers around his will. It seems there are a few different versions floating around. As you might expect, someone with his wealth, or source to assets, might have a lot of people wondering who he was planning to leave all his stuff to. It seems that he has left most of his remaining assets to his mother, his children, and some charities. So let the bickering and the courthouse drama begin. His father was apparently left out of his will, so were his brothers and sister. Well what does this mean to you and me? Other than the shear entertainment value nothing. Except ask yourself this question? Do you have a will? Who will get your stuff when you die? Will it have to be dragged through the courts? It is believed that as many as 70% of all Americans do not have a will. Do you want your state to decide who gets what? For many people, and definitely Michael Jackson, a trust is a better way to distribute your assets after death. A trust will avoid probate, while a will does not. Perhaps you have a will or trust but it has not been updated in some time. Call your lawyer and make an appointment to get your documents updated. It won't matter to you, but it will matter to your loved ones!

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