5 Basic Steps For Family Estate Planning

Estate planning is often overlooked by the average American.

While it may seem complicated, estate planning is here for you to make sure your assets and wishes are well-taken care of, as well as reducing the taxes your loved ones would pay making the process easier for everyone involved.

Here are some basic steps to help you get started:

1. Designate a Trusted Power of Attorney

2. Plan Your Advance Directive

This document establishes your wishes when it comes to what type of medical care you want whenever you are incapacitated or unable to speak for yourself. 

3. Compile All Valuable Information

Aside from important contacts like doctors, lawyers, and financial advisors, you should also keep a list of your physical and digital assets as well as safe deposit boxes and rental storage.

This helps your family make sure all your assets are accounted for in challenging times. 

4. Write a Will (Maybe Open a Trust, Too)

An estate attorney can meet with you to provide the best options for you and create the agreed upon documents.

Again, be very descriptive in your wishes so there is no confusion later. 

5. Inform Your Grown Children about Your Plans

Be honest and open with your children; they can only assume that you have taken initiative with your assets.

Teach them and inspire them to take the same responsibility for their assets, too. 

An Important Note:

Estate planning is not just about injury or death, it ensures that you and your wishes are properly accounted for. It is an extra level of comfort for you so you can enjoy life to its full potential!

Interested in Working With Us?

If you need any help regarding your estate or other legal matters please reach out to us directly here and schedule a call with one of our paralegals on our scheduling page here.