May 29, 2020
I am bringing up this topic of "Why You should have a Last Will and Testament?" because it is top of mind as last Monday a very good friend and a client of mine passed away at the age of 79.
Although it came to me as a shock since we were in touch most of the time and all of a sudden I heard that sad news. But the good news is she had her Last Will and Testament made up already so her family members do not have to worry about it.
This is a very sensitive topic as nobody wants to think about their will. It's morbid and scary to have to face our own mortality.
It is, though, an important fact of life.
How you deal with it now can have a huge impact on the legacy you leave behind. It's extremely important to address your legal will now, before the unthinkable happens, for so many reasons.
If you have important assets and investments that you want to go to specific people, for example your children, the only way to ensure that's exactly what happens, is to have a legally binding last Will and Testament outlining exactly where you want everything to go.
For most real estate entrepreneurs, you've accumulated your portfolio over the years now but do keep in mind that you update your "Will" regularly as your investment portfolio grows.
Make a list of all your investments accounts, assets, bank accounts and people related to your business like bookkeeper/accountant, lawyer etc as per your financial situation so if something bad happens to you your children can have access to these people and documents.
As I was planning my WILL update this week, I thought to share this with you to get your WILL updated and if you don't have one, Get One.
Learn more about this topic by visiting my Facebook page- www.facebook.com/coachednakeep
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