Eileen is absolutely correct. ALL of us should have a properly and legally prepared will, at the very least. Life is fragile and it's all too easy to die an accidental death, let alone cancer. Avoiding probate is key because the court will take 15% off of the top of the total value of the estate.

If real estate is involved then a revocable trust is the way to go. It will include the trust, will, powers of attorney and advanced directives. A paralegal can typically prepare it for far less money than an attorney. It can be easily updated. Power of attorney, in a will, is typically only applicable if the individual has become incapacitated or dies. Bank accounts need to be done individually at the branch where your signature card is on file. You both need to be present to do this.

You can specify every detail of your estate and it's disposition. It can save a lot of family pain and infighting later.

If the trustee dies, it's easy to transfer the estate to the sucessor trustee yourself, even though attornies will want to charge up to a $1,000 for doing it. (I went to the county and transfered my fathers estate to me for a whopping $60 in paralegal fees and a $50.00 county deed of trust transfer.)

My wife and I have also discussed our last wishes, burial, cremation, memorial, celebration or funeral arrangements. It sounds gruesome but it is a discussion that you only have to have once and it is a relief to get it over and done with.