Originally Posted by will76

If you want to take it a step further (which you should) if you have any amount of assets/kids etc.. you need to get with an estate planner. There are tons of things you can do to help protect your heirs. Unless you don't mind doing nothing and letting the IRS (US citizens) potentially take a huge chunk away before your kids / beneficiaries get the money you worked hard for, paid taxes on already, and wanted someone to have (NOT THE GOVT!)