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When Valerie learned she needed surgery, she wrote out her will by hand, leaving her main asset, a house,
to her lifelong friend Theresa. When Valerie died unexpectedly from complications of the surgery, Theresa learned that the
will was invalid in her state.
Valerie did not have the will witnessed and she named no executor to her estate.
After spending thousands of dollars in attorney fees to resolve those questions in court, Theresa never inherited what her
friend had bequeathed her. Most lawyers agree that unless you draw up your will and estate planning documents very carefully,
even the best-intentioned people can end up with documents that subvert their wishes.
The word estate
may conjure images of mansions and gated driveways, but estate planning is not for only the very rich. Whether you own a lot,
or not much at all, you have a right to decide what will happen to it upon your death. An estate plan is simply a way to ensure
that your property goes to those you choose as quickly and with the least amount of expense as possible. Go to next page: What is an estate?
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