This is step four of our five part series in building your financial empire

After you have found the proper insurance for you and your family, now is the time to get a Last Will and Testament drafted.

Yes, we all are going to die one day.

Just like Life insurance, if you having anyone depending on your income, you may want to draw up a will. If you have any assets you may want to have a will.

Yes, I know what you are thinking, if I’m married my assets automatically to go my children and my spouse. Yes, this is true. However, if your mother, cousin, or sister wants to detest it, guess what? Without a will, your spouse or children may be waiting a long time to get your assists.

Financial Tip:

Without anything in writing its only he say, she say. So please get a Will.

Where to Get a Will?

You can have a Lawyer create a Will for you, for a flat fee of $300-$400 dollars.

“I don’t have that type of money”

Another way to get a Will, you can go to Office Max, Office Depot, or Staples and get a pre-printed Will and Estate Planning form for about $8 bucks. Fill out the form and get it notarized from a notary or a bank. Do not sign the form until you get to the notary. They will need your driver’s license to verify you and then you sign the form in front of them.

A will simply determines who get what and how much. If you have three children you may not want all assets to be divided three ways. You may just want your spouse to get 80% and your children to divide the remaining 20%.

If you are a single mom, you may want everything to go to your children. You must have it in writing.

If you want your children to get everything and not your spouse, a Will can make this happen.