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March 02, 2009

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belicoso

It is always better to have an estate plan but such legal instruments are ESPECIALLY valuable in 2 situations. 1) when you have made the decision to disinherit someone in your immediate family OR you give to them disproportionately (ex. give 80% of estate to your son and only 20% to your daughter) 2) when there is a second or third or fourth etc. marriage involved. In both of these situations estate planning documents are going to be put to a challenge by either the relative who feels slighted, or the most recent spouse who believes that they deserve everything and so it is crucial that properly executed estate planning documents be in place. Of course the documents alone won't make you immune to arbitrary will challenges (read: Anna Nicole Smith) but they should protect your assets and distribute them the way you intended as long as your case is heard by a competent court.

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