An important aspect of a solid financial plan is having a valid will. Most people understand that they need a will and have every intention of making a will…someday.

There are two reasons people don’t make wills: a reluctance to face their own mortality, and misconceptions about what will happen to their assets if they die without a will.

It you die intestate (without a will) then the laws of the state in which you reside will determine how your estate is managed following your death.

Most people assume that if they are married, the spouse will inherit everything. If assets are jointly owned, this may be true but having a will can expedite the process and save on taxes and administrative costs. Other situations may arise that you don’t foresee. Your spouse could die also, or remarry and your estate could end up in the hands of a second spouse.

Money isn’t the only reason to have a will. Other property and items may have sentimental value. Having a will allows you to distribute these to whomever you wish. If you die intestate, a court may order the sale of all assets so that the money can be distributed among your nearest relatives. Having a will allows you to name an executor of your choosing. Without a will, the court will appoint one for you.

Some are waiting for big changes or to reach milestones in life (such as buying a house) before they get down to the business of making a will. A will is a document that can be altered when the need arises so the perfect time to make a will is now. Changes in your situation can always be reflected in updates and changes in your will.

1. It’s easier. Tax preparation software prefills a lot of information (especially if you get your W2 online). It’s quicker to punch in numbers on your keyboard than to try to write it all out legibly.

2. Fewer mistakes. Again, tax preparation software makes it easier by doing all the math for you. Fewer mistakes mean a return that is processed faster.

3. No missing tax breaks. The tax program you use will be loaded with all the new tax rules and allowable deductions, whereas some IRS forms this year have some deduction lines missing and taxpayers who don’t know about those deductions can miss some important tax savings.

4. It’s faster. The IRS estimates that it processes electronically-filed tax returns in half the time it takes to process paper returns.

Buying a good tax preparation software might save you money and pay for itself. If your adjusted gross income is less than $52,000, you can use the IRS’s Free File service by choosing an e-file partner company from the IRS website. Electing for direct deposit saves time too and gets your refund to you even faster.

If you have lost your credit card or fear it may have been stolen, notify the issuer of the card as soon as possible. Under US law, once you have notified the credit card company that your card is lost or stolen, you are not responsible for unauthorized charges. Your liability for charges on a lost or stolen card is limited by law to $50.

Although many people are aware of this, still unscrupulous scamsters may try to sell you credit card loss insurance protection. Using telemarketing schemes to sell worthless insurance, these scamsters can cost consumers dollars to protect what is already protected by law. Often they will tell people that the law has changed, and they are now responsible for all unauthorized charges.

The best defense you have against scam artists is knowledge. When you hear someone telling you something that doesn’t agree with what you know, be on your guard. Read your credit card agreement and know the terms of your account and procedures for dealing disputed charges. List your phone number on the National Do-Not-Call Registry. Remember, never give out your account number, social security number or any other personal information over the phone unless you are sure of the business that you are dealing with.

According to CNN Money, most Americans are clueless when it comes to taxes. 75% of people polled didn’t even know this year’s filing deadline date (it’s April 17).

As we reported earlier, many people are not claiming the telephone tax refund and of those who are, many are incorrectly filing for inflated refunds.

From misconceptions about the AMT (Alternative Minimum Tax) to being uninformed about standard deductions and exemptions, a lot of Americans are less prepared to do their own taxes than they think they are. The result could be receiving a lower refund than they are due or the unexpected arrival of a bill from the IRS.

If you have a complicated return, you may want to use a paid tax preparer who is familiar with the ever-changing tax code.