Heath Ledger's Will is an Example of the Importance of Updating Your Will

Heath Ledger's Will was Outdated and everything he owed went to his parents and sisters, his daughter and her mother got nothing. The thing about the past is that it easy to have 20/20 vision and critize him for not updating it and leaving his daughter out in the cold.

The guy was only 28 and the fact he even had a will is amazing. How many parents go around without a will or life insurance like they are invincible. When I was working in the Financial Planning industry I received a call, one of our clients had died. He was in his late 30s with young children and his wife was a stay at home mom. I called the insurance company to make arrangements and guess what, he'd let the policy laps. No policy, no money.

Women that stay home need to have a life insurance policy on their lives as well as the working spouse. Why, because a stay at home mom adds cost savings to the family and without her the working parent will have a lot more expenses with childcare, house cleaners and extra help.

Instead of critizing Heath for not having updated his will, take this lesson to go up date your will and life insurance.