The illness and death of a loved one are always stressful; so why then would you voluntarily choose to add to that stress by failing to put a simple plan in place? Here are vital legal documents that you should have to ease your loved ones’ burden should you become incapacitated or die.
The prudent man rule directs trustees “to observe how men of prudence, discretion and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested.”
Celebrities aren’t the only ones who fail to plan for their passing and leave no will. The difference is, their failures can become instructive for the general public. If we don’t have a will, only our family will know how much time, expense and stress occur because of a failure to plan.