In a recent blog post on Forbes, Why Women Need An Estate Plan (Hint: Want The Kids To Get All Your Spouse's Assets?), Susan Hirshman writes about the importance of estate planning for women.
Hirshman writes that a lot of wills were drawn up to leave the amount of the husband's assets equal to the federal exemption amount to the couple's kids, and the remainder to the wife. She poses the example of a husband who passes away with $5 million in assets. If his will was drawn up as described, the kids would get all $5 million and the wife would get $0.
Hirshman's overall point is that now is a good time to decide what you want to happen to your "stuff" and plan your estate.
Posted by Kyle Petit, Associate Editor, Wealth Strategies Journal.
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