Sometimes, it’s easiest to talk about something difficult when it’s all laid out in front of you in steps. Kiplinger decided to tackle talking about creating an Estate Plan in this manner, in their below-linked article “8 Smart Estate Planning Steps to Die the Right Way.” Kiplinger’s top suggestions are:
1. Write a will (put it in writing)
2. Consider life insurance (provide for basic needs)
3. Establish 3 critical end-of-life documents (delegate control)
4. Avoid probate (pass it on with less mess)
5. Set up trusts (transfer ownership)
6. Divvy up your stuff
7. Plan your memorial (personalize your send-off) / prepay your funeral (plan, don’t prepay)
8. Choose burial or cremation
While these are solid suggestions, they are also very vague. Each of these steps needs to be taken into consideration, thought extensively about, discussed with your close family and translated onto legal documents to create an effective Estate Plan. This is best done when advised by an attorney.
Danna & Associates, PC is a law firm that has specialized in Estate Planning & Elder Law since 1994. These 2 decades of experience in the fields allow us to offer you accurate and personalized advice when creating your Estate Planning documents. Call 718.273.0300 for your free consultation today!
Click here to read the article!