It’s never too early to start thinking about your future and your family’s future.
No matter your age or financial standing, it’s important to be proactive about estate planning. While the process can seem overwhelming, you can take simple steps to help your planning go a little easier.
Get started by following these simple tips.
1. Inventory your assets. First things first: What’s included in your estate? Take a look at your assets, including your home, car, investments and any belongings with sentimental value.
2. Assemble your team. Who do you need to help you get your affairs in order? Think about who will be granted medical power of attorney and executor of your estate. You may also need a financial planner and an estate attorney.
3. Think about your beneficiaries. Are your beneficiaries up to date on all of your accounts? Double-check your bank accounts, retirement accounts and life insurance policy.
4. Plan for your family’s needs. You’re likely going through the steps of estate planning to ensure your family is taken care of for years to come. Check to see that your plan covers your wishes for your children’s or grandchildren’s care. Review your life insurance policy, and get in touch to make sure the coverage amount is enough to cover your family’s needs.
5. Organize your paperwork. It’s essential to get your plans down on paper. Think about keeping your will, power of attorney, beneficiary information and any other important documents together in a safe place that someone you trust can also access.
Do you have questions about future planning, your coverage or anything else? Reach out today.