When the Spanish painter Pablo Picasso died of a heart attack on April 8, 1973, he left behind not only a huge artistic oeuvre of 50,000 works, but enough family drama to cover several generations.
The official figure for elder financial fraud used by a congressional committee is around $3 billion a year, but that’s based solely on reported cases of fraud. Other estimates are 10 times that much.
The proliferation of digital footprints in our online communities raise demand for consumer tools and options for dealing with digital assets upon incapacity and death.
In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.
Taking over a loved one’s affairs is not easy. However, what can make the task less daunting, is to make sure you get off on the right foot by obtaining the necessary legal documents and other information which will make your job much easier.
Your will is one of the most important documents you will ever sign. However, to think that over 70% of people don’t even have a will is, indeed, quite frightening.