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3 ways to prepare for making an estate plan

On Behalf of | May 13, 2024 | Estate Planning

If you are considering making an estate plan, then it is best to keep the momentum going and get it done. Too many people put theirs off, always finding something more important to do and that can leave them and their family vulnerable if something happens to them.

To prepare for making your estate plan, it’s wise to do a few things:

Write down what you own


Most people own much more than they realize. Making a list is the best way to account for everything. If you don’t account for things in your estate plan it can lead to confusion and perhaps quarreling about where you would have wanted a particular asset to go.

Write down who you would like to leave something

Listing your beneficiaries is particularly important if you have a lot of people you would like to leave something to. Some people just leave everything to their kids, while others give things to grandchildren, close friends, local charities and more. Imagine how upset a grandchild would be if you left every other grandchild but them something.. Making a list ahead of time can help you avoid forgetting anyone.

Talk to those you need to fulfill a role

Estate planning is not just about leaving people things. You’ll also need to name people to fill a few important positions, such as executor, power of attorney, and, if you have children, a guardian. Chat with people ahead of time to see if they would be happy to take on the responsibility

Once you have all this information, you can seek legal guidance to begin making the estate plan itself.

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