Do you have a will? If so, have you planned your estate as to who gets what?

I understand that making a will is the easy part. The hard part seems to be inventorying what you own and who gets what. What do you think?

I just recently set up a will and, upon my death,all of my assets go into a trust fund. It's called a testamentary trust. The beneficiary of the trust fund is my daughter. I didn't have to inventory anything. When I die, all of my assets, house, car, furniture etc...will be sold and all proceeds will be put in the trust for my daughter. Now, if there is something separate like a family heirloom, you can list it separately. You don't have to list every little thing however...unless you want to.

And you can have your life insurance and 401K go into the trust too or any other investment.

You don't really have to inventory "everything". You can list the specific important items, such as heirlooms, or "my current automobile" and specify who gets them. The rest you can say "to be sold and the proceeds split equally/by the following percentages" or "$10,000 to John, the rest to Mabel" or "divided more or less equally as my executor sees fit to determine".

Personally, I'm thinking of having my executor give my named heirs each $1,000 in poker chips, and have my entire estate go to the winner of a "winner take all Texas Hold'em" poker game. It'd be fun.

Sandy, my daughter knows my wishes. I would write them down, take a witness and have it notarized. That way you will have witness with proof as to what you want done. You can make a tape and give it to someone you trust.Someone you know that will do the right thing when the time comes.

I do not have a will. After I'm dead I won't care who gets what.

no