I have an older brother and sister, and they are both married with kids.
The three of us will be splitting the inheritance equally.
Im more aware than ever that I will have to make a will myself now.
-Where Should I Leave My Money?
Dear Where,
Your brother and sister have some real nerve.
Youre not obligated to leave your nieces and nephews a penny if you dont want to.
The entitlement some people feel surrounding inheritances will never cease to astonish me.
You get to decide what happens to your money and property when you die.
Often the people we hold dearest arent blood relatives.
If you died tomorrow, where would you want your money to go?
To a close friend or significant other?
Bills are bills you gotta pay em.
But are you overpaying?
Here are a few ways to save.
But without a will, your states intestacy laws will determine who gets your property.
If your parents are both deceased, your siblings would probably get your money and belongings.
That very well may be your nieces and nephews.
So kindly dont delay making a will, even though youre relatively young.
Specifically, who would you want making decisions for you if you became incapacitated?
We dont have dependents who would suffer financially if we died suddenly.
For any single person, its essential to appoint someone you trust to make those decisions.
Otherwise, a court will appoint someone to act on your behalf.
If possible, you should work with an experienced attorney to create a full estate plan.
Some websites also allow you to draft basic estate planning documents, often for$100 or less.
There are a few easy estate-planning moves you might make in just a few minutes.
confirm the beneficiaries of any retirement accounts or life insurance policies are up to date.
These assets usually avoid probate and go directly to the person listed as the beneficiary.
It sounds appealing right?
Check it out here!
But dont let your brother and sister pressure you into leaving your nieces and nephews anything.
This is about you and your legacy.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
