STEPS TO CREATING YOUR ESTATE and estate PLAN

We've identified these 5 steps to the creation of your Estate and Estate Plan.
  1. Preserve and Grow Personal Wealth
  2. Prepare for your Potential Incapacity
  3. Assign Beneficiaries to Designated Assets
  4. Create Your Will or Trust
  5. Centralize and Store Important Information
See our Creating Your Estate and Estate Plan roadmap for further details.

ARE YOUR EMOTIONS GETTING IN THE WAY OF CREATING YOUR ESTATE PLAN?

Many people find it difficult to get started. Their emotions get in the way. Here are some common emotional hurdles and how to overcome them.
  1. Discussing death – This is the largest emotional block for people when it comes to estate
    planning. You can overcome this hurdle by understanding the reasons for estate planning and
    how it helps ensure that those you care for are protected and taken care of.
  2. Keeping everyone happy – One of the biggest emotional hurdles is keeping things fair and
    your beneficiaries happy. A good Estate Plan helps ensure this happens.
  3. Giving up control – Some assume that they give up control with estate planning. But with estate planning you determine your control. There are techniques that can be used to specify the level of control you have under different circumstances, as well as how and when your assets are distributed and used. There are also tax savings you can offer your beneficiaries depending on how you set up your Estate Plan.
  4. Dealing with professionals – Some feel embarrassed or vulnerable revealing to professionals what they don’t know or what they are having a hard time understanding. Some don’t even know the right questions to ask to get started. But these professionals work with clients from all walks of life. And when you find the right ones, they understand where you are coming from and know how to make the process simpler and easier for you.
  5. The cost of estate planning – While cost may be a valid concern, poor planning could end up
    costing more in increased taxes and having to hire professionals to deal with the issues that arise when a plan is not in place. If you determine that you will need professional help, look at the cost as an investment versus an expense. It is an investment to ensure you are protecting your loved ones and the assets you have worked hard to generate.

If you would like to begin estate planning or have any questions, please don’t hesitate to contact
us.


This content is intended to be used as a source for general information and is not provided as legal advice.

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