If you’re just getting started with your estate planning, you likely have a lot of concerns about how to get started with your affairs. You likely want to make sure that you have a full plan in place, so that you’re always protected. Take a look at the following information, to learn what documents and techniques you may want to consider. If you have any questions, or if you’d like to begin your estate planning, contact an estate planning attorney.
- Do you have life insurance? This is an important planning tool. With the right amount of life insurance in place, your past debts and expenses can be paid for after your death, and your family can continue to pay monthly bills without your income. If you have a family who relies on your support, this is an especially important planning need.
- Have you updated your beneficiary designations? If you have a life insurance policy, pension, or life insurance, you need to make sure that your beneficiary designations are reviewed and updated. This will ensure that your assets are given to the right people after your death. Many people fail to update after divorce, marriage, and other significant life changes.
- Have you outlined your funeral planning wishes? Many people have preferences for their funeral needs. It’s important to write these wishes down, so that they’re honored. It can also help to keep your loved ones from having to make difficult decisions after your death. Be sure to let your loved ones know where you keep your funeral plans and other important documents.
- Do you have your documents organized in a safe place? An estate plan is only effective if your documents are kept in a safe and secure place, and if others know that your plans exist. Communicate with your loved ones so that they understand that you’ve done your planning and so that you can explain where your documents are located.
If you have any questions about estate planning, consult with a qualified estate planning attorney.
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