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Making lists might help you create your estate plan

On Behalf of | Aug 24, 2018 | Estate Planning, Firm News

Estate plans aren’t something that you can do in a hurry and then forget about them. Instead, you need to be able to think about how you are setting everything up. Typically, your will should be the cornerstone of the plan. This outlines who is going to get which assets that you have. On top of this, you should also ensure that you have other necessary components handled correctly.

We know that you have a lot to think about when it comes to these arrangements. While the exact process you use must fit your needs, there are some special things to think about that might be beneficial. One of these is that it might help you to make a list of the people you want to include in your will. This gives you something to check when you are divvying up the assets that you have.

If you have considerable assets or things that you think your loved ones might fight over, you might want to write out a list of those. You can use this along with your list of heirs to divide everything that is important, including unusual family heirlooms that you have.

Be sure that you don’t include anything in your estate plan that already has a designation. Examples of this are bank accounts with a payable on death designation. Life insurance policies and other similar financial accounts may have these. We can help you evaluate your circumstances to provide you with an overview of the options you have. From there, we can get your estate plan created.