Are you just getting started with your estate plan goals? If so, you will need to plan carefully so that all of your needs are met. It’s important to stay informed throughout the process so that you fully understand the estate planning documents that you are creating. Take a look at the following 9 things to remember when creating your estate plan. This guide will help inform you of the essential things when creating your plan. If you have any questions about how to begin your estate plan, meet with an estate planning attorney.
- Always work with an experienced estate planning attorney. Don’t attempt to do your own planning! This could lead to serious and costly mistakes. If you want to have an estate plan that meets all of your needs, it’s important to work with a professional. Your attorney will also be able to make a plan that is completely legal and error-free!
- Understand that estate planning is a process. Estate planning is not something that will be done overnight. You will need to discuss some difficult topics to create a plan that fits in with your life. You will also need to work with your attorney throughout the process. Don’t be afraid to ask questions so that you’re better informed.
- It’s important to start TODAY. Many people put off their planning. This can have extremely negative effects. If you want to be prepared for possible emergencies as well as unexpected events, you will need to begin your planning as soon as possible.
- Don’t forget to review and update. Your estate plan should not be created and then forgotten about. You should meet with your attorney every 3 to 5 years to review your plans and make updates. If you experience significant life changes, you may need to make updates sooner.
- Inform your loved ones about your estate planning. It’s important to make sure that your loved ones know that you’ve taken the time to properly plan. This can make them feel secure and can make everything proceed smoothly in the future. An estate plan is only useful if someone knows that it exists!
If you have any questions about your estate plan needs, consult with a qualified estate planning attorney and be sure to read part 2 of this 2 part article.
John Potter is an Estate Planning and Elder Law attorney in the Charlotte, North Carolina, area with offices in Ballantyne and Huntersville. John has been designated as a Certified Elder Law Attorney (CELA) by the National Elder Law Foundation and a Board Certified Specialist in Elder Law by the North Carolina State Bar.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
Latest posts by John Potter (see all)
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