WHY IS ESTATE PLANNING IMPORTANT?

Do you think having a last will and testament is important? Yes, having a last will and testament is important in order to ensure that your wishes are respected and your property is distributed according to your wishes. It also allows you to name guardians for your children and appoint an executor to carry out your instructions. 

Moreover, if you already have one in place, make sure it's up to date. You should review it every few years to ensure that it's still relevant. You should review it after any major life changes, such as the birth of a child or a divorce. If the laws of your state change, you should review it as well.

In the event that you have a 5-year-old last will and testament that you haven't updated and you pass away, the will is deemed invalid because it was not updated to reflect the new circumstances. In this case, the estate was not distributed according to the wishes of the deceased. Therefore, the deceased family and friends had to go through a complicated legal process to settle the estate. You could have avoided this by updating your will.

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