Around two-thirds of all Americans have not prepared a health care directive, according to a December 13, 2019 article written by a personal finance specialist at Forbes. The author noted the irony of this figure, pointing out that California was the first US state to enact a law regarding health care directives back in 1976.
In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.
Many people have tens of thousands–even hundreds of thousands–of dollars in their IRAs. If you have an asset that large, shouldn’t you devote more effort to planning for its ultimate disposition?