Many people put off estate planning because of unease, but forming an estate plan gives you control, which is also valuable if sickness or incapacity prevents you from being able to communicate your wishes. Here are some tips recommended by CNBC when putting your affairs in order:
Seek Help: It is not difficult to leave behind instructions for one’s passing when using an attorney with a strong understanding of estate planning law, but mistakes frequently happen when couples and individuals try to handle estate planning alone. Having an attorney ensure that everything is legal and in order is the best way to make sure your wishes are met.
You should not forget the little things when crafting your will or trust as many people forget items that are not always monetarily expensive, but have sentimental value. Emotions can run high when a parent dies, so children might fight over jewelry, cookware or cherished possessions because they want something special to help them remember mom or dad. Designating specific items to friends and family may prevent fighting later.
Communicate: Being specific is only helpful if people can read your last wishes, so make copies of wills and trusts or tell someone exactly where the documents are kept. If your loved ones are searching for the correct safe deposit box or scouring the attic for your will, there is no guarantee they will find your burial instructions or other important notes in time.
To discuss estate planning and preparing for your future and passing, contact us today so that we can help ensure your wishes are met.