As the adage goes, you can’t take it with you. Whether
you want to spend your last dime or leave it all behind when you go,
creating a comprehensive plan for your estate
begins earlier than you might think. If you don’t have children or
obvious heirs, documenting your wishes and making them accessible will
help ensure those wishes are fulfilled should something happen to you.
“If today were your last day on earth, who would get
your stuff?” says Jean-Luc Bourdon, a certified public accountant in
Santa Barbara, California, and a member of American Institute of
Certified Public Accountants’ personal financial planning executive
committee. It’s a question he poses to all of his clients, especially those without kids. While parents may think their children are the answer, Bourdon says people without children need to plan more carefully.
