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Don’t forget these things when creating your estate plan

On Behalf of | Aug 16, 2021 | Estate Planning |

Your estate plan is the guide your loved ones will follow regarding your assets when you pass away. It’s imperative that you have everything set up in a way that enables them to do this as quickly and easily as possible. That can take the stress off them during the time when they will be grieving.

It’s important that your estate plan makes your wishes clear and that everything is conveyed in a manner that meets the state’s legal requirements. There’s more to it than just putting the estate planning documents in place. Don’t forget these important things.

Check ownership documents

If you plan to leave specific property like a home to a particular person without it having to go through probate, you’ll need to have ownership documentation set up in a specific manner. For example, it’s important to look at how jointly held assets are titled so that you can be sure they will go to the intended party when you pass away.

Review your plan periodically

Your estate plan can only do its job if it reflects your current wishes when you pass away. It’s typically a good idea to review it every year or two. You should also do this after you have a major life change, such as getting married, going through a divorce or having children.

Anyone who’s ready to create an estate plan should ensure that they understand what components they need and what each component they establish will accomplish. With experienced legal guidance, you can create and maintain a plan that is right for your family.

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