Welcome back. Our estate lawyers in Cary NC are here to help you with estate planning. Below, you'll find more tips that help you make things easier on your family in the event of your death. This is a continuation of our previous blog.
Tips for Easy Estate Planning | Estate Lawyers Cary NC
- Are there family heirlooms, photographs or items that you would like to be included in your state plan? If so, take time to write each item down and where can be found in the event of your death. These things are sometimes just as important and valuable as monetary items and other financial assets.
- Are you planning to have different accounts for multiple heirs? This could include adult children or other loved ones. It’s a good idea to keep in mind what type of accounts you are distributing. They may increase in value unevenly, making the amounts the children receive differently. This can cause hurt feelings and confusion later on. Especially if they do not understand why they may have received less than a sibling. Your lawyer can help with this.
- Do you have a will or living trust in place? If not, you should consider creating one. It can help you with this. If you already have one created, where are they? It’s important to leave instructions, as well as where to find those instructions upon your death.
- Do you have multiple bank accounts? In addition, do you have safe deposit boxes for records of these accounts? In some cases, passwords or safety codes may be placed on the accounts for safety deposit boxes. Be sure to include this information within your state plan. This may be important for your family to have when your estate is distributed to beneficiaries. This information may be needed for the executor, as well.
- Do you have records of your bonds, mutual funds or stocks? If not, it’s important to leave these records in an area that can be easily accessed upon your death.
- Has a major life change occurred? This can be something such as a marriage, divorce, birth, or death. If it has, your existing designated beneficiary may need to be changed. If you get a divorce and do not change your beneficiary from your former spouse, he or she may collect property intended for a new spouse or child. Even if you have updated your estate plan and will to reflect changes, the person named in the actual policy or on the account overrides what is in your will. Many people review their estate plan and policies once a year in order to ensure that everything is up to date.
We hope this information helps you with estate planning. Remember, our estate lawyers in Cary NC can help. Call now to learn more.
Are you considering estate planning? If so, congrats. We hope this information helps you decide to start estate planning today! Remember, you're never too young to start. Call now to learn more. Also, be sure to check back soon. We will have more reasons why you should start your estate plan now, instead of later, no matter what your age is.
As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact our estate lawyers in Cary NC to schedule a consultation if you have yet to start estate planning. It’s never too early to make plans for your wishes upon death. In addition, Eldreth Law Firm, PLLC is here to help you with all your legal matters, whether it be estate planning, trademarking, copyrighting, or DWI issues.