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The importance of making a will

Some Nevada residents might be among the 60 percent of American adults who say they do not have a will. While may individuals many have difficulty thinking about mortality, creating a will could save their loved ones a great deal of time and money.

By having a will, a person will be able to control the future of their assets. Without the proper documents, a probate court will make the decisions regarding the estate of a deceased person.

A will can help eliminate the stress on descendants because it makes the testator's wishes clear and designates an executor to handle the estate. It also saves money since the estate will probably move more efficiently through the probate process when there is an existent will.

Some people might put off making a will because they think of estate planning as something that only older people need to be concerned about. However, statistics show that the United States has a relatively high mortality rate for people in the 10-to-24 age range. Of the more than 2.5 million people who died in 2011, 90,000 were ages 20 to 39.

There are a number of other aspects of estate planning that a person may want to consider as well. For example, a person might want to think about end-of-life care and what kind of decisions they want to be made for them. A power of attorney appoints someone to manage a person's financial affairs if they are incapacitated, and they can also appoint someone to make health care decisions. People should also consider discussing their estate plan with their family so that the loved ones have an idea of what to expect.

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