Estate Planning For Unexpected Tragedies
Having an Estate Plan in place for the unexpected is the best way to be prepared and reduce the burden imposed upon your loved ones! Unfortunately, there is no way to see what the future may bring, so planning for the worst is the best way to keep your assets safe in the event of a tragedy. Most people do not know where to start but that is where your lawyer can help.
Schedule a free consultation. If this is the first time that you’re thinking about estate planning, make sure to shop around and find a lawyer that will meet your needs. A quick internet search for attorneys in your area is a great place to start. Also, talk to your friends and family to see who did their estate plan.
Organize your Family’s Assets. You don’t have to speak to a lawyer to start organizing and listing your assets. Start making a list and discussing with your family members what you plan to include. Be sure to list any 401k plans, accounts, important passwords, etc. Your lawyer can walk you through the details and any missing items but it’s a great head start to have a list ready.
Revise your Plan. If you’ve already planned ahead, make sure you update your current estate plan every 5 years. Especially, when major life events occur, such as a new family member, separation or death.
Tragedies can happen. It’s important to be prepared.