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Why a Will & Testament is Important

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Summary: A will & testament is an instrument that allows an individual to speak for themselves, through the will, if they cannot in real life. Protect possessions with tips and advice on how to write a living will from an experienced financial adviser in this free video.

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By Patrick Munro
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Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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Video Transcript

"This is financial adviser Patrick Munro, discussing the benefits of wills in relation to probate. It's important that an individual in life, when they become an adult, and start to accumulate assets, as in mutual funds, and stocks, and a house that they own themselves to have a will. If they pass away in the absence of a will, that's called, dying intestate. And if you do so, the state that you live in will step in, and decide where your assets, and how they will be distributed. This is not a good situation. The government normally does not do a good job, and normally will leave out family members as well. To avoid this unfortunate set of circumstances, make sure you execute a will with an attorney, an elder planning attorney is often times the best one to use. Make sure that you have declared beneficiaries, loved ones who will receive your assets, this way you can avoid probate. This is Patrick Munro, discussing, wills in relation to probate."

eHow Article: Why a Will & Testament is Important

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