Estate Planning For Everyone

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1. Making a will is the first step. You should state who you want to inherit your property. You can choose a guardian to take care of you children after you are gone
2. Your family won’t have to go through probate court if you hold your property in a living trust.
3. You can also decide and instruct on what kind of medical attention you’d like for yourself should you need one in future and your physical and mental condition then would be unable to decide what is good for you. Or you can also authorize someone to make decisions on your behalf.
4. You can propose and authorize a trusted person to handle your finances on your behalf should you become unable to do so physically or mentally on yourself. This will save your property to fall into wrong hands.
5. You can name a guardian how can handle your minor child property inherited from you till your child is an adult.
6. Naming your beneficiary for your bank accounts and retirement plans will mak it easier for the person inheriting your wealth to claim. You can also register your stocks and bonds with your beneficiary for easy transfer after your death.
7. If you have young children, consider life insurance.
8. You can be a better planner and arrange for your own funeral in your life time. You can set up a payable on death account at your bank that will pay for your funeral when you die.
9. Make clear note on your organ donations. And how do you want your body be disposed- burial or cremation.
10. If you are sole owner of your business, you should have somebody in your mind who could take care of it when you are gone. It should be clearly specified.
11. You should keep your all important documents in hand and known to your trusted person should you meet untimely death. Your attorney or your executor would need access to the following documents:

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