Estate planning wills

Soon it will be possible for people, in concert with their attorneys, to maintain wills and other estate planning documents on a home computer. This would make them easily changeable and provide other advantages. Even though not presently realistic, your will or trust should be viewed as an ongoing document, not a once-in-a-lifetime creation forever sealed and stored in a secret place. It needs to be updated periodically because of such possibilities as the following ... 

Death. Life insurance is an important part of an overall financial plan, but see it for what it is. Don t get led into buying life insurance as an investment. Sales commissions and administrative costs run high. In retirement, minimize coverage since you will have other assets to cover living costs for survivors. Look into converting existing whole life policies to paid-up insurance. If you have a policy that pays dividends, consider having the dividend applied to the premium. One insurance feature that is attractive to retired couples is the second-to-die policy. This policy provides cash to help with estate taxes and thus eliminates the need to sell other assets when the estate passes to children. 

---