So who want to do ‘estate planning’, except estate lawyers? It’s boring and morbid and your to do list is probably more fun. Yet, estate planning is one of the best things to do for peace and order for your life and thereafter for your family. Don’t let loved ones make the crucial decisions about your estate. It will be a burden. If you do it now, it saves time and energy and you will have made the decisions.
Estate Planning Checklist. Everyone needs some degree of estate planning. Estate plans need to be tailored to the needs of the individual. The following estate plan checklist will explain some basic documents and help you evaluate those that will be of value to you.
- Draft a Will
- Ask an Attorney about Trust- Establish because then you bypass probate cost and hassles. Can establishes a Trust within your will to manage assets after death.
- Assign a Power of Attorney
- Setup Advance Directive
- Have enough Insurance – if have children get term life insurance policy; make sure have right coverage
- Update your beneficiaries
- Organize your paperwork
- Keep it in the right place
Contact SMI for assistance with your estate planning.