Estate planning is a gift to the people you leave behind. This is another example of how doing a will can simply an already difficult process for loved ones.
Thursday, March 10, 2011
Personal Representatives, Dying Without a Will, and Bonds
People often ask me, why should I bother doing a will, I don't have a complicated life? One reason is that if you die without a will, the person who steps forward to act as the personal representative may be required by the probate court to take out a signature bond before the court will appoint them. In many cases this means the PR is bonded for themselves; they are an heir. If a will were done this hassle could be eliminate; a will can say no bond is required if a nominated PR acts.