The primary reason why it is important to have an estate plan in place, whether you have significant assets or not, is to ensure that your wishes are carried out in the manner that you choose. If you don't record your wishes, the state is left to decide who will make health care decisions in your behalf should you become incapacitated. They will also determine how your assets will be distributed in the event of your death. Few if any of us want that, and this is why a comprehensive estate plan … [Read more...]