Getting Started with Estate Planning

Trying to anticipate the management and disposal of a loved one’s estate can be an overwhelming process. While specific goals of estate planning will likely change with each client, the law of estate planning will remain stable. Our estate planning lawyers in Westminster can help you along the way. If you’re just getting started, here’s what to keep in mind.

Deadlines are Key

Setting a deadline for yourself will help ensure you get the task done and out of the way. Putting this off will only make you more stressed in the long run.

Educate Yourself

Although we are here to help you along the way, being educated about estate planning will make you feel more confident. Even getting to know the basics is a good idea.

Organize Your Finances

Establish a spreadsheet to keep track of your personal assets, market values, debts against them, their net worth and how they are titled. Things to include in this sheet include your home, other real estate you own, titled property like boats and cars, your bank accounts, interest-bearing accounts, items of special value, etc. Try to be as honest as possible to ensure your plan plays out smoothly.

Make a List of People Who Will Inherit from You

Include all of their full legal names, dates of birth, current addresses and their relationship to you. If you’re married, make sure your spouse will have enough money to live comfortably for the rest of their life.

Ask Us Questions!

We know that this may feel like an intimidating and daunting process. Our estate planning lawyers in Westminster have the experience, patience and guidance to make sure you’re successful in your estate-planning journey. Don’t hesitate to voice your concerns and comments along the way. If you’re planning on hiring an estate planning lawyer in the near future, contact us today!

Source: Estate Planning