Whether it has been a while since you reviewed your estate plan, or you have yet to make the time to get one together, now is a better time than ever to start thinking about establishing an up-to-date estate plan, in order to ensure you and your loved ones are protected.
Peace of Mind
An estate plan can give you peace of mind in knowing your family is taken care of after you have passed away. Although thinking about your own mortality is not at the top of your list, it is important to make sure an estate plan is prepared to ensure your wishes are met.
First, make a will so that your assets are distributed the way you want among loved ones. In addition, this helps to prevent arguments between loved ones after you are gone. Also, a will allows you to set up a trust for your children in which any monetary assets are held until they reach a certain age.
You also need to consider who will be a responsible executor to your estate. This person will be in charge of handling your debts and making sure your will and assets are carried out the way you listed in your will. Your executor is someone you trust more than anyone else, and is usually a spouse or eldest child.
When your executor is chosen, make sure he or she knows where all your important documents are located, such as passwords on accounts, financial records, insurance policies, etc. They will need this information when handling your items after you are gone.
Are you ready to start planning your estate? Make an appointment with one of our knowledgeable and experienced attorneys who are ready to ensure all “i”s are dotted and “t”s are crossed when it comes to your estate planning.