3 Things You Need to Know About Estate Planning
Are you ready to begin planning your estate? This is a huge task that requires time, dedication, and planning. Before you get started, make sure you know how to prepare.
For some adults, the idea of estate planning seems like an impossible chore. After all, if you’ve never created a will or trust before, the idea of starting one may seem daunting. Fortunately, your attorney understands that estate planning is a very personal and sensitive topic, which is one of the reasons an experienced estate attorney is a must-have for any adult who wants to ensure that their affairs are in order.
Before you get started, make sure you gather all of your important legal documents. You’ll need to bring these when you meet with your attorney. Your lawyer can help you evaluate your belongings and assets, create a plan that will help protect your heirs, and assist you in ensuring that you cover all of your bases. When you’re ready to get started, there are a few things you need to know.
1. You need to begin now.
Don’t wait another day to start planning your estate. You can take measures now to protect your assets and your heirs. Your lawyer can help guide you through asset protection strategies and can discuss gift giving taxes with you. Additionally, your attorney can help you create a trust or even multiple trusts to disperse your assets on your terms. One of the biggest reasons to talk with your lawyer about estate planning is that they are very experienced. Your lawyer can help you fully protect your assets in ways you may not have considered.
2. You need to think big.
When most people think of estate planning, they think about creating a will and listing their assets; however, estate planning involves much more than just creating a list of items you own. You can also designate a guardian who will care for your minor children after you pass away. You can talk about your options regarding estate taxes. Your lawyer can help you designate a power of attorney (POA) who can make choices on your behalf if you become unable to. You can even share your wishes regarding funeral arrangements.
3. You need to be specific.
One of the most important aspects of estate planning is being specific. Never simply say, “my heirs.” Instead, you should list specific beneficiaries in your will. You also have the option to disinherit any individual you would like to. This will prevent them from claiming anything from your estate once you pass away.
Are you ready to create a will or trust? It’s time to talk with your lawyer about estate planning. Reach out today to schedule a consultation. You’ll be able to meet with an experience lawyer who can help guide you every step of the way. A thorough will can help protect both your heirs and your assets and can bring you a peace of mind. Don’t wait. Call now.