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Estate planning: 6 steps to ensure your family is financially ready for when you die

November 15, 2019

From the USA Today website

When Vivian Young and her then-husband took their first vacation without the kids, the need for estate planning struck them like a jolt.

“I started thinking about worst-case scenarios,” says Young, now 64, of Los Angeles.

Worried about who would take care of the children if something were to happen to them, they found an attorney who quickly drew up a will.

Over the years, Young’s estate plan evolved when her life changed, such as when she divorced and when her children turned 18. Putting off planning can be tempting, she admits, “but there are consequences.”

More than half of Americans will learn those consequences first hand, as only 42 percent have a will or other estate planning documents, according to a 2017 study. Among parents of children under 18, only 36 percent have created a will.

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