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When There's a Will, There's a Way

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Avoid a basic will if you expect your will to be contested, if you expect custody issues with an ex-spouse or if you expect to pay estate taxes. Deciding who would care for your children if you and your spouse were to die is one of the most emotionally charged issues in making a will. A natural choice might be one or the other of your own parents, but consider their health, ages and resources before choosing. A more neutral choice might be a sibling who is financially stable and willing to take in your children if need be. Keep in mind that these important decisions will be made in your absence, so take an active role in how you want things to happen when the unthinkable happens.