Tuesday, October 23, 2012
Even if a person is uncomfortable with discussing his or her financial situation, it is still a good idea for that person to create the necessary estate planning documents that everyone needs before they die. A person might want to consider, at the very least, these steps when planning for that his or her death.
- The client might want to consider making the difficult decisions in advance, such as the method of body disposal and the funeral plans.
- A client might want to make a will.
- When the client is drafting his or her will, that client might want to consider all the necessary considerations when bequeathing property to a particular person. For example, say a client intends to give money to a person but knows that the person is not trustworthy with money. The client might want to consider creating a trust to ensure that the person does not spend all of the money irresponsibly.
- A client might want to provide additional information, such as a list, about where all of his important documents are located and how to access them. In addition, the client might want to organize all of his important papers, such as the title to his home, to ensure that it is easy for his or her family members to find the important documents. On side note, an attorney might want to try to discourage a client from hiding money or other types of property.
- Furthermore, the client might want to consider sharing his memories with the people they care about. He might also want to do the things with family members before they can no longer do that anymore.
See Jennie L. Phipps, Estate Planning: 10 Things That Make The Road to Heaven Smoother, Daily Finance, Feb. 22, 2011.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.