Estate planning is one of the most important things you can do for your loved ones. Don’t leave your estate planning until it is too late. Make those important decisions now, and be sure to have your documentation complete. You don’t want to leave your family to have to make these decisions during a time of grief. A well-planned estate will help ensure that your wishes are met. Check out this link to hire the best estate planner.
A Will is the cornerstone of your estate plan, and there are many other aspects to planning than just assigning who gets what. You may need to establish trust funds and guardianship for minor children. You will also need to decide who you want to be the executor of your estate. In addition to family and friends, don’t forget about your favorite charities.
A Will lists your wishes for where your possessions go and how your money will be divided. Items included in a Will can be jewelry, homes, cars, boats, retirement funds, etc.
Proper planning will help ensure your wishes are met and your loved ones receive what you intended for them to receive. With estate planning, you aren’t leaving it up to a judge to decide who gets what particular trinket and your family will not have to pay large legal expenses.
If there are minor children involved, under the age of 18, you will need to express your wishes and arrange for their guardianship should anything happen to you and your spouse. In addition to arranging for guardianship, you may want to provide ongoing financial support by setting up trust funds to help care for your minor children.