Phone and computer passwords, crypto wallets, investment portfolios, mobile banking passcodes and even social media credentials also need a place to go when you die.
Contingent beneficiaries provide a safety net, if the primary beneficiary cannot receive the assets from an estate or proceeds from a life insurance policy or retirement account.
Inadequate access to estate planning frequently prevents Black and Hispanic families from passing down wealth, which perpetuates the racial wealth gap.
Without proper estate planning, anyone can end up under an unjust and unneeded guardianship. In the wrong hands, the guardianship state system can lead to neglect and exploitation.
We all know death is inevitable, but planning for it can feel uncomfortable. Regardless of your age, one crucial step often overlooked is creating a will.
