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MILWAUKEE (CBS 58) -- Only 24% of adults have a will, leaving many families vulnerable to legal disputes, financial strain and other challenges, according to financial advisor Tom Neumann of Drake & Associates, who joined us on Wednesday, Aug. 13.

Neumann said estate planning helps ensure wishes are honored and assets are distributed efficiently. A will can name guardians for minor children, assign an executor and designate financial and healthcare powers of attorney. He advised reviewing all assets, naming beneficiaries and updating plans every five years or after major life events.

Common mis

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