The Great Will Myth
Families are constantly reminded about the importance of creating a will to define how assets will be transferred to heirs. It seems like common sense, however many people delay the process thinking the inevitable will never come. To further compound the problem, most people have been led astray, thinking a simple will is the only instrument necessary for the transfer of assets upon death. Why is this scenario flawed?
Many people do not fully appreciate the difference between a well thought out estate plan, designed for wealth preservation in contrast to a will which is established primarily to name the benefactors of the deceased assets.