Preparing your estate before you die is a vital task, yet many people procrastinate with their estate plans. It's easy to understand why this happens, but you should consider planning your estate before it's too late. You can prepare your estate by contacting an estate planning lawyer. You can schedule an appointment, and here are a few things to do to plan for this meeting.
Write an inventory of your things
A good place to begin is with an inventory list. This list should contain everything you own. You might start by listing physical assets, such as your home, cars, and collectibles. Next, list every bank account you own. Don't forget to include investment accounts and retirement plans. You'll also need to list your life insurance policies and any other assets you have. The goal is to ensure everything you own is on this list. You'll use this list to create an estate plan that covers everything.
List your top concerns
You might also begin thinking about your concerns and goals. For example, what is your main reason for preparing your estate? Some people want to ensure that the right people receive their assets. Others look for ways to reduce estate taxes, and some want ways to easily transfer their items to the beneficiaries. You might want to write a list of your goals and concerns. Then you can talk to your estate lawyer about these things.
Consider your beneficiaries
Another thing to consider is your beneficiaries, who are the people who get your things when you die. Many people choose their children as their beneficiaries, but you can choose whoever you'd like. For example, if you're not married and don't have kids, you might choose your cousins, siblings, or a nephew.
Evaluate various tools
Additionally, you can research various estate tools to start thinking about what you need. For example, do you want a living will? A living will gives someone else the authority to make your medical decisions if you can't make them. You might also want a power of attorney for your finances. There are numerous tools to use, and an estate lawyer can explain them to you.
Meet with an estate planning lawyer
Meeting with an estate planning lawyer provides the information, advice, and assistance you need to begin your estate plan. Are you ready to schedule an appointment? If so, contact an estate planning lawyer to learn more.