Kelly and Jerome owned a very successful office- upply business. Over the years, they made enough money to buy a house, raise two children, travel, and etire in comfort. Sadly, Jerome dies just a few years after they etire. Neither Kelly nor Jerome could face the thought at one of them would die, so they had not planned ccordingly. Since there is no will, Jerome's estate divided according to state law. Half of his property oes to their children. The amount Kelly receives will ot allow her to live comfortably for long. She has no egal right to the children's inheritance. Since Kelly and Jerome also did no tax planning, Kelly has to pay axes that could have been avoided. Case Review 1. When does it become important to prepare a will and complete estate planning? 2. Why is a will important even to those who do not have large amounts of money or property? 3. What are some estate-planning steps that can ease financial burdens following the death of a loved one? 4. What advice would you have given to Jerome and Kelly before they reached retirement age?