Stop! What are you waiting for?

I remember meeting with a young client. Two weeks before her wedding, her fiance died of a heart attack. They had lived together and had one child before deciding to get married. She explained to me that getting a will and other estate planning done was on their list of things to do but they never got around to it. Since he did not have a will, she did not receive any of his assets that were not jointly owned with her. Their 3 year old daughter did inherit his assets. However, as a result of complications in her financial situation and some internal family dynamics, she was not awarded guardian over the assets left to her daughter. The court appointed a non-family guardian over the assets. The guardian is responsible for the distribution of any monies on behalf of the child. A will could have alleviated this complexity.

She told me, she wished she had not waited for someone to die before she got her own will. So, are you waiting for someone to die before you take action?