What is estate planning?
Over the years, I have received plenty of questions about creating a will and estate planning.
After all, anyone over the age of 18 probably needs to have at least some part of an estate plan.
Recently, I asked you, my readers, what questions you have about estate planning. Some of the questions you had included:
- What is estate planning and why is it important?
- Is there a situation in which you would not need an estate plan?
- At what age should I start estate planning?
- Should I do my estate planning myself or hire a lawyer?
- What is the difference between a trust and a will?
- Who should have a will or trust?
- Who is best to make the executor of your estate plan?
- What happens if a person passes away without an estate plan?
- What are the main steps in estate planning?
Because this is not an area that I’m an expert in, I gave these questions to Vicki Cook and Amy Blacklock who are experts in the area of estate planning.
Vicki Cook and Amy Blacklock are coauthors of Estate Planning 101 and cofounders of the award-winning personal finance website Women Who Money. Vicki’s also the founder and blogger behind Make Smarter Decisions, and Amy’s the founder and blogger behind the award-winning site Life Zemplified. Additionally, they’ve been frequent contributors to GOBankingRates, Wealthfit, Medi-Share, and various personal finance sites around the web. [Read more…]