THE DO'S OF ESTATE PLANNING
June 14, 2017
You hear time and time again that you need an estate plan. While you already know this, there are some important do's that you should consider as part of your estate plan.
USE A REPUTABLE ESTATE PLANNING ATTORNEY
If you think you're saving a lot of money creating your own estate plan, you will be surprised at how much you could lose if your estate plan isn't accurate. The only way to have an estate plan that is 100% accurate and in accordance with your state's laws is by hiring a professional to help you draft it.
If you have children who are under the age of 18, you need to designate a guardian to take care of them. A guardian will raise your children until they come of age; therefore, you want to make sure the person you select raises your children in a similar manner as you would have. If you have special needs children, you will need to ensure that your estate plan addresses a guardian for them as well.
Estate planning isn't something you have to wait for. Just about anyone could benefit from an estate plan - even if it means just drafting a will or creating a medical directive. Don't wait until it's too late to create an estate plan. Your estate plan can benefit you early on and help protect you during a medical emergency or time of incapacitation.
Lastly, always be open and honest with your estate planning attorney. When you're asked a question or asked to furnish documents, make sure you provide them.