Estate Planning

People plan for important events in their lives. Marriage, vacations and/or retirement are thought out in great detail. However, many people do not like to think about death and often avoid making important decisions about allocation of assets, and other planning that could be most effectively done by those persons to avoid unnecessary heartache for their survivors. Many people have not made a simple Will and many other people with need have not made comprehensive plans to avoid probate or save on estate taxes.

In order to help ensure the financial security of loved ones, and to have the satisfaction of helping deserving organizations, you should contact your estate planning attorney to have a Will, or to have your current Will and estate plan reviewed and updated. Here is a helpful checklist of items that you may want to consider when making these plans.

  1. Do you have an updated will?
  2. Do you have an estate inventory?
  3. Do you have a durable power of attorney to allow someone to assist you to manage finances and other business affairs should the need arise?
  4. Do you have a living will that covers the medical needs that you may have in the future?

After reviewing this list, you may feel that you are now in a comfortable time of your life. You may have accumulated material wealth and enough wisdom to know that planning and preparation is the key to any endeavor. Educate yourself with professional advice from someone experienced in estate planning. Prioritize your goals. Put your plan into action.

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