Best practices for making an estate plan
The dispute involving singer Aretha Franklin's will has put the spotlight on the need for anyone to clearly put in writing their wishes for property and assets after they die.A will is a legal document that spells out who gets your stuff and in what amounts. Parents with minor children can also nominate a legal guardian for their kids.You also name an executor in your will to ensure your wishes are followed.If someone dies without a legal will, it means they die “intestate.” Each state has laws that determine how an estate’s property is divided in those circumstances.