Getting an estate plan doesn’t have to be overly complicated.
Many people put off creating an estate plan because they think it is a difficult, complicated process but there are tips that can make it easier as Personal Liberty recently published in "Nuts and Bolts of Estate Planning."
The tips include:
- Organize all of your financial and asset documents so you know what you have and what you need to plan for.
- Make the important decisions about who you want to have your assets and how much everyone should get.
- Think about how your heirs might disagree and how any conflicts can be avoided.
- Your plan does not need to be perfect. You will not be able to create a plan that pleases everyone completely.
- Whenever possible keep your plans flexible so they are easy to change when circumstances change.
- Make sure you are choosing responsible people to act as your executor and trustees.
- Do not surprise your heirs with too much. If you are planning something unusual, it is a good idea to let them know.
An estate planning attorney can guide you through the process of creating an estate plan that meets your unique circumstances.
Reference: Personal Liberty (Oct. 28, 2016) "Nuts and Bolts of Estate Planning."