Having a Will is a great start, but it can also create many problems and costs as everything in your estate is made public and ultimately decided upon by a judge within the probate courts. A Trust can help avoid many of these problems, but many people are afraid of the upfront time and cost of implementing the Trust. Let’s review seven basic steps to help you get off to the right start.
Seven Basic Steps to Get Started
- Inventory your assets (tangibles and intangibles).
- Account for your family’s needs (guardianship and life insurance).
- Establish your directives (will, trust, medical, power of attorney).
- Review your beneficiaries.
- Understand how estate tax laws might affect you.
- Decide if professional help is necessary.
- Review and reassess your estate plan as life changes.
If getting started seems overwhelming, let Structured Financial help you put the proper estate plan in place so your loved ones are cared for after you are gone, while also making certain your assets transfer with ease.