Tuesday, December 24, 2013
Don’t wait to do your estate planning. Instead, take that weight off your shoulders right now and ensure there’s a plan in place if the unthinkable were to happen to you. Here are four steps most people can follow to take care of their estate planning needs:
- Prepare a master information document. This should provide all the information one would need to close out your accounts and obtain any balances you might have.
- Purchase a life insurance policy. Buy a term policy if you have anyone who relies on your income.
- Write a will. Execute a will to ensure your personal items are given to the right people.
- Include guardianship plans in your will. Decide who should take care of dependents.
See Trent Hamm, 4 Steps for Simple Estate Planning, US News, Dec. 17, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.