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Why failing to have a will is a costly financial blunder

In our Eye on Money series, we are looking at costly mistakes people make with their finances. Failing to have a will is one of the biggest errors you can make. Fifty-eight percent of American adults have not prepared estate planning documents, according to Caring.com. We spoke to a Massachusetts woman who could lose the home she has lived in for most of her life because her step-father did not leave a will. CBS News business analyst Jill Schlesinger, who writes about the importance of having a will in "The Dumb Things Smart People Do with Their Money," joins "CBS This Morning" to offer practical tips.
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