Helpful Estate Planning Tips

Estate Planning Lawyer

Estate planning is very important, but it is not something many people want to think about. They don’t want to imagine their own mortality. However, in order for your final wishes to be carried out and your family to be taken care of, you must make estate planning a top priority.

Here are a few helpful estate planning tips to consider.

Start the Process Right Now

A common mistake an estate planning lawyer sees people make is putting off the estate planning process off. It is important to begin the estate planning process when you are of sound mind. If you lack the capacity to execute a will, it won’t be considered valid in court. While estate planning might not be the most exciting activity, it is a necessary one. Your family will be thankful that you took the time to execute a proper estate plan right now.

Talk to Your Family

Before you establish an estate plan, it is a good idea to discuss the topic with your close family members. Explain your wishes to them and be open to answer their questions. You do not want your family to have any surprises after you are gone. This can cause unnecessary conflict.

Do not Overlook Items of Significant Value

As the legal professionals at Silverman Law Office, PLLC can confirm, establishing an estate plan goes beyond your house and the money in your bank accounts. You may have other items of significant value, like jewelry, artwork and collectibles. To ensure that these items go to the people of your choosing, make sure to include them in your estate.

Remember to Choose a Legal Guardian

If you have minor children, it is important to appoint a legal guardian for them in your estate plan. While you might not like to think about life without your children, you still have to plan for the unexpected. The guardian you select should be responsible, financially stable, trustworthy and compassionate. He or she should also live in the same state as you and be willing to take on the role as guardian. If you don’t appoint a legal guardian in your estate plan, the state will then choose the guardian.

Speak to an Estate Planning Lawyer

Estate plans are complicated documents, so it is in your best interest to seek the advice of an experienced estate planning lawyer. A lawyer can help you put your goals and wishes in writing and look out for your best interests. He or she will make sure that your estate plan follows the specific laws in your state and answer all of your questions.

Update Your Estate Plan When Necessary

Most people need to update their estate plans multiple times throughout their lives. When you experience a major life change, like a divorce or birth or a child, you should take another look at your estate plan so that it reflects your current goals.

If you need assistance with your estate plan, contact an estate planning lawyer today.

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