Question 1

    If you don't, you're not alone. The majority of all Americans do not have an estate plan at all or have not updated their previous plan in the last 10-15 years. If you don't have an estate plan, the government has a plan for you. State law determines who your beneficiaries are and virtually guarantees expense and time consuming probate. Very rarely does the legal list of beneficiaries match those persons and specific distributions that you would have wanted to make - had you completed your plan. Further without proper estate planning, much of your estate can be exposed to lawyers fees and very expensive long term care costs. All this can be avoid by preparing, with a team of professionals, a sound estate plan.