It can be overwhelming and stressful having to think about beginning your estate plan. Taking the time to think about your goals can help to make the process much easier.
Take a look at the information below for tips on how to begin your planning. If you have any questions, or if you’re ready to create your estate plan, meet with a qualified estate planning attorney.
- Make a list of your assets. You will need to figure out most of your assets and their value. This will help you determine how the handling of your assets will be planned for.
- Make a list of your debts. In order to create your estate plan, you and your attorney will need to understand your total amount of debt. This will help you determine the actual value of your estate.
- Think about the beneficiaries who you wish to receive your assets. If you have certain loved ones who you want to make sure that you leave an inheritance to, you will need to carefully plan. Carefully consider all of your loved ones to ensure that you make the right decisions.
- Consider your loved ones and decide who you would appoint as your trusted helpers. These trusted helpers will be responsible for helping you with various aspects of your estate plan. You will need to choose helpers who are responsible, trustworthy, and reliable.
- Make a list of your goals. Are you looking to protect yourself in case of emergencies? Do you want to make sure that your children are always protected? Do you want to minimize your estate’s tax responsibilities? These goals will help you discuss your wants and needs with your attorney.
Take the time to carefully consider the above tips. Your attorney can help you feel more comfortable about the entire process. If you have any questions or if you’re ready to start your estate plan, consult with a qualified estate planning attorney.
Latest posts by Raymond German, Estate Planning Attorney (see all)
- My Mother Just Passed Away. Now What Do I Need to Do? - December 12, 2019
- Income Tax Basis in Estate Planning - December 10, 2019
- 5 Considerations for the First-Time Executor - December 5, 2019
