How To Start Estate Planning

     Estate plans are a necessary tool that allows you to protect and maintain your property if you become sick and when you pass. It ensures that those you love most are cared for after you pass on. Many people delay estate planning, but it should be done as early as possible.  There are a few common reasons people have for delaying. Some mention they don’t have the time, money, or assets that are needed for estate planning. You know there is not a perfect time for anything and that is why it’s important to get started today.  Here are a few items to help take the first steps in your estate planning journey.

• Gather all necessary documents and keep them in a safe place where your family knows where they’re at.
• Make a list of all the things you own, along with any pending debts
• Write down your objectives for your estate plan. Know who gets what.
• Review your will or trust if you have one
• Review and update the beneficiaries of your retirement accounts or insurance policies
• Review and update POA for health and financial matters
• Look into creating a trust. A local elder law attorney can help with this.

     Using a will or trust will protect your assets and allow you to pass them on however you like. If you don’t leave a plan in place, the government and courts can make these decisions. Your plan may be as simple as meeting with an attorney and getting verbal instructions. If you have more complicated assets such as businesses, investments, or real estate, then you may need more help. Please contact your local elder law attorney for more help on how to set up your estate plan the way you want.