One of the most thoughtful tasks you can complete for your loved ones is the establishment of a well-prepared estate plan. Upon your passing, or if you become incapacitated, a well-created plan will ensure that your wishes are carried out. Additionally, it will make life much easier for those close to you. Now may be a good time to partner with an estate planning legal service in Lafayette Co.
Questions to Consider When Engaged in Estate Planning
Before you meet with your estate planner, make sure you have thought about the following:
- What would you like to do with your assets upon your passing?
- Would you like to give to charity after your death?
- What provisions have you made for your adult and underage children?
- If you have a business, what becomes of it?
- Who will handle your personal affairs if you become unable to conduct them yourself?
Thoughtful consideration of these basic questions will make the initial meeting with your estate planner easy and productive.
Make Your Estate Plan Dynamic, Not Static
As you well know, life goes on and throws us plenty of twists and turns, not to mention the odd curveball. Estate planning is not a one-and-done mapping exercise. When family situations change, your estate plan should change as well. Make sure that you and your planner review your estate plan every five years or so, more frequently if major events occur within the family such as marriages, divorces, and deaths.
Estate planning may initially seem like a difficult task to face. Very few of us want to deal with end-of-life plans, especially our own and when were fit and vibrant. Don’t put it off. If you follow these steps, you will have greater peace of mind that things will be handled according to your wishes as time passes.