Nobody wants to think about what happens after they die. Nobody.
So, instead of thinking about that, think about what happens to your loved ones. There’s an incredible amount of pain when we lose a loved one. So, make it a bit easier for them by making plans now. Starting with planning your estate.
Here are a few things to consider in the estate planning process:
- What do you own? Make a list of everything you own of any significance. Property, cars, investments.
- Decide who you want these assets to go to. Don’t leave it up to loved ones – or the courts – to decide. Take that burden off of your loved ones.
- If you have significant assets, look into setting up a trust. This could make things a lot easier for your loved ones.
- Choose an executor. This is the person you trust to carry out your wishes.
- Review the deeds on any real estate you might own and consider whether or not it should be a survivorship deed.
- Get a will. Without a will, you could be exposing your loved ones to a lengthy, expensive process of settling your estate. Also, establish a medical power of attorney – this just tells everyone what your medical wishes are if you are not able to make them and names the person you trust to make other medical decisions if you aren’t able.
Everyone’s situation is different, so it’s really best to have an experienced attorney take a look at your needs. At ES Gallon, Marty Malloy can help you get started. Give him a call to set up a time to talk.