According to a study of 2,500 individuals by Caring.com, 44% of adults aged 55 and over have a will or estate planning documents. As you consider your estate plans, you should give serious thought to who will be the executor of your estate. It’s important that you know what is involved in the role of an executor before you decide who will settle your estate after you are gone.
For most people, estate planning is not a daily activity. That is why the terms used in the estate planning process can sound like a foreign language. Nonetheless, every adult should have an estate plan to ensure that their wishes are carried out when they are no longer able to speak for themselves. It is important to understand some of the language of estate planning since it will be speaking for you.