Most people put off a trip to their estate-planning attorney because the thought of planning for death is unpleasant. As a recent article explains, there are several considerations that a person can make before meeting with their estate planning attorney in order to make the process as quick and painless as possible.
Inventory your assets
It is important to have an understanding of the size and nature of your estate. Remember that your estate includes every asset that you own, such as real property, retirement accounts, life insurance policies, and high-value personal property. When inventorying your assets, also consider whether you own personal property that is not particularly valuable, but has a special sentimental value within your family such that they may fight over it if you do not clearly state to whom it should go.
Decide how you would like your assets to be distributed
The main goal of estate planning is to distribute your assets amongst your selected beneficiaries however you see fit. Because life is unpredictable, however, it is important to plan for contingencies. After you have determined what your ideal distribution would be, consider what would happen if one or more of your beneficiaries predeceases you.
