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Only through a formal legal will can you designate your own executor, guardians for minor children, and other fiduciaries.

Do you ever think about the need for life-support systems should you become “terminally ill” or “permanently unconscious” due to the possibility of experiencing a future accident or illness? What decision would you want your family to make if faced with the difficult choices involved with life-sustaining medical treatment for you?

Be sure to consult with your qualified team of tax, legal, and financial professionals. Early and thorough planning can help you avoid these common mistakes, meet your financial goals, and leave a lasting legacy for your loved ones.

You can easily draft your own will through one of two methods: type it yourself on a computer or typewriter, or create one through an online program. Although handwritten wills are permitted, creating a formal, typed document is less likely to cause trouble.

When planning your estate, you may consider setting up a revocable living trust. A properly managed revocable living trust can provide unique benefits; however, it does not completely replace a will.

Regardless of your net worth, take steps now to help ensure that your intentions will be followed as directed and that provisions will be made for your loved ones.

I have reached an age where the Rock & Roll legends from my generation are dying. The past year saw David Bowie, Glenn Frey, Prince, George Michael, Chuck Berry, and J. Geils – among many others – join that great rock band in the sky.

I do not suggest drafting your own will, because what you create is sometimes worse than nothing at all. However, I appreciate that some people sometimes want to take a shot at directing their estate's destiny. If you are one of these people, take note of these five suggestions before executing your document.