2014 has arrived! Each year at this time, many people have ‘finally get a will’ as part of their New Year’s Resolutions. The process is not as intimidating and stressful as you might think. Whoever you choose to begin your estate plan, making the call to get on his or her calendar is the first step. In preparing for your initial conference, there are several things to consider that will make that first meeting easier, such as:
- have a detailed list of what will make up your estate – this includes your personal assets, life insurance policies, retirement, real estate and business interests to name just a few;
- who should be the recipient of your assets – spouse, children, parents, friends, charities;
- who should carry-out your plan – executors, trustees, powers of attorney (try to come up with at least two for each position);
- what questions do you have?
The initial estate planning conference is part fact-finding and part problem-solving. Both attorney and client should come away from that conference with more information than they started, and a good idea of how to implement a plan. Don’t let 2015 arrive before you’re getting an appointment to review or create or estate plan.