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Katya Sverdlov Blog

Friday, February 3, 2017

Do your plans for 2017 include estate planning? Below are 5 tips to consider!

  1. Schedule a family meeting to discuss your assets and your wishes with them. Create an inventory of your assets and share it with your family. Don’t leave your family in the position of scrambling in their search for documents and assets in the future!
  2. Consider giving your children and your spouse passwords to your digital assets and email accounts: Your email may contain a lot of important information.
  3. Review the beneficiary designations on your life insurance policies and retirement accounts. Your life may have changed considerably since you have last updated these forms.  Whenever you find obvious errors (naming minors or disabled individuals as beneficiaries) make sure to create any necessary trusts to receive the assets instead.
  4. Consider charities and charitable bequests. You may be involved with an organization that you actively support.
  5. Consider purchasing a prepaid burial plan. It will be so much easier for your children to know what you wanted, and allow them to focus on your legacy instead of immediate financing needs during their grieving period.

Disclaimer: This article only offers general information.  Each situation is unique. It is always helpful to talk to a specialized attorney, to figure out your various options and ramifications of actions.  As every case has subtle differences, please do not use this article for legal advice. Only a signed engagement letter will create an attorney-client relationship. ATTORNEY ADVERTISING.


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