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Comprehensive Planning

Three common goals of comprehensive estate planning are to ensure that your loved ones don’t drown in the expenses of probate, to reduce family discord, and provide the terms by which your named beneficiaries will receive their inheritance. We take the time with each client to discuss their financial assets, health care needs, as well as family dynamics. We want to know about your life before crafting a plan that’s just right for you. And while planning for the inevitable may feel daunting, finally taking the time to create a plan for yourself will undoubtedly bring relief.  We are here to help!

 

These initial steps will get you started on the path to more restful sleep knowing that your family is taken care of:

Step 1: Assess Your Assets.

The first step to preparing your plan is to make note of your entire estate. It’s important to know what assets you have at your disposal because that will allow you to decide what happens to them when you pass away. We will provide you with an Estate Planning Worksheet where you provide some basic information about your life and your responses provide a foundation from which we can get started.

Step 2: Who Do You Want to Inherit?

This brings us to the question: who would you like to inherit your assets after you pass away? Make sure to take the time to think about who you want as your beneficiaries. In the event of an untimely demise, the most important thing is to ensure that your family is well-taken care of and that your children and your assets are protected.

Step 3: Choose Trusted Fiduciaries.

The executor of your last will oversees your affairs and making sure that your last wishes are expressed. The trustee of your trust is responsible for overseeing your trust estate assets. You are also able to name someone to make your health care decisions should you become unable to do so as well as nominating a guardian for your minor children.

These first steps will get you started to create a comprehensive estate plan that will protect you and your loved ones and all that you have worked so hard to protect.