Estate planning for broke people
I was studying remedies today until I realized that it would be more efficient to study this subject later in the month.
I was at a Starbucks this afternoon and I had a conversation with someone about estate planning. At one point I told him that many rich and even middle class people have some kind of estate plan. He then jokingly said, "There's no such thing as estate planning for broke people."
Now Im wondering whether it is desirable for "someone of limited means" to have an estate plan. Lets assume this person has no life insurance, no significant or unique assets (house, car, collection of Garbage Pail Kids stickers) and has a dead end job (fast food worker, intern, law clerk).
**For the legal eagles - lets also assume he made a valid holographic will.
Any thoughts?
I was at a Starbucks this afternoon and I had a conversation with someone about estate planning. At one point I told him that many rich and even middle class people have some kind of estate plan. He then jokingly said, "There's no such thing as estate planning for broke people."
Now Im wondering whether it is desirable for "someone of limited means" to have an estate plan. Lets assume this person has no life insurance, no significant or unique assets (house, car, collection of Garbage Pail Kids stickers) and has a dead end job (fast food worker, intern, law clerk).
**For the legal eagles - lets also assume he made a valid holographic will.
Any thoughts?
