Calculate Your Bucket Age

Calculate Your Bucket Age

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This topic has 2 replies, 3 voices, and was last updated 4 years, 2 months ago by 1 11.

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- April 16, 2019 at 3:59 pm #1957
  
  blackdog4
  Participant
  
  I’m 64 and my wife is 62. We have 2 adult children who both get along. I have a life insurance policy for which, after my wife, they are the two equal beneficiaries. And we live in our own house which we own outright. And our retirement account lists my kids as beneficiaries. But we’ve never done a will. Given that we have a relatively simple set of assets, and that the kids are listed as beneficiaries, I’m thinking we save the money and don’t do a will since everything we have will just get passed on to them. Any reason why not?
- June 24, 2019 at 1:01 pm #2468
  
  applejon52
  Participant
  
  Yes! A will is important to have. I am not a lawyer, but recently just saw my friend go through this. Her parents died without a will and it was a nightmare for her and her siblings. Depending on the state the rule are different. They had to go through a lot of lawyers, and hard work to transfer assets, deeds, and more. It was an eye open for my wife and I!
- September 5, 2019 at 3:16 pm #2669
  
  1 11
  Member
  
  You may want to look into setting up a trust as well. This might make things even easier when the time comes. Again, you would need to seek a lawyer on this one.
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