How To Get Started

It’s not too early to get started on your estate planning. Estate planning is a process that refers to getting your assets in order after your death. This includes who will receive them and who will handle their distribution. On top of that, you want your assets and estate to be handled in a way that is smooth, accurate, and minimizes the taxing process. Here’s a checklist for estate planning.

Create An Inventory

First off, you need to create an inventory of your assets. This is split up between tangible and intangible assets. Tangible assets include things like houses, land, vehicles, and personal possessions. Intangible assets refer to items such as bank accounts, health care savings, and life insurance. Once you have an inventory completed, you are ready to move on.

Assess Loved One’s Needs

This is the step where you will create your will. This ensures your assets are properly distributed according to your wishes. A will dictates how you would like your real and personal property to be distributed to others. If you have children, make sure you name a guardian as well as a backup guardian in your will.

Create Your Legal Directives

Creating a trust will allow someone to take over your assets and decisions should you become unable to do so. You can also create a living will at this point. This establishes your wishes should you ever be in a medical state in which you are being kept alive by artificial means and have no reasonable means of recovery. Similarly, naming a power of attorney allows someone you trust to make financial decisions on your behalf if you are unable to do so.

Work Alongside Estate Planning Professionals

Estate planning is a complex process with many important decisions regarding your future and assets. Hiring a trusted estate planning attorney will make these steps easier and smoother for you and your loved ones. Their guidance will help create the best plan for you. 

Affordable and Reliable Planning

We’re here to work with anyone looking for Estate Planning, covering everything from simple wills to detailed revocable trusts. We understand that every family is unique, and we will provide a free consultation to create a personalized plan. Contact us today to learn more.