The distribution of wealth among beneficiaries through your final will and testament is often a complex and sensitive issue, one that can potentially spark conflicts and legal challenges among family members.
We have a situation where both of my in-laws passed away in the last several years. My wife was the daughter and she and her brother are the executors to the last of my in-laws to pass away.
Take the squabbling between siblings you've had to endure and referee as a parent. Now multiply it times age and money. That might give you some idea of the need to make your final wishes clear when the time comes to divvy up your assets.
After you die, several things can happen to your bank account, depending on your account type, how you’ve set up your account before your passing and whether you’ve set up a will or trust.
If you are getting remarried, you obviously want to celebrate. However, it is also important to focus on less exciting matters, like redoing your estate plan.
