Sunday, October 26, 2008

Getting Your Affairs in Order

The last two Sundays at church we've had a mini-conference on Estate Planning. "B-O-R-I-N-G!" you say? Not at all! I have learned quite a bit just by attending the two sessions led by an estate attorney.

Did you know that when you die if your estate is worth more than $100,000 your family may have to wait 6 months to a year to get what you've willed? It is called probate.

Did you know if you don't leave a will stating where your children should end up that a judge (who may or may not agree with your religious convictions) decides who will raise your children?

Did you know that the government can take about 50% of your assets in a Death Tax which is completely avoidable with proper planning?

Did you know that by spending a thousand or two dollars now you can save tens of thousands of dollars (or more if you're made of money) later?

Did you know that in the state of IL, you will be kept on life support unless a very specific, very easy form is filled out stating otherwise?

I learned a lot, and I have a lot to do to get our affairs in order. We are not guaranteed a single day. Now that we have String Bean, we can no longer afford to have our will sitting in a file unsigned.

Luckily, we were left with a list of Action Steps so we know where we are going from here!

1 comment:

Amy said...

Ha, we posted at the same time!