There are various aspects of estate planning. Many times, people don’t consider everything that goes into the overall process as well as what type of documents should be included. Over the course of the next several blog posts, our estate lawyers in Raleigh NC will talk in detail about each aspect of estate planning. This series will be a great refresher course for those who have already begun estate planning and a great introduction for those who have not begun planning at this time.
Over the course of the next several blog posts, our estate lawyers in Cary NC will talk about the following topics in detail.
- Creating a will is part of an overall estate plan. This document can be simple or complex. However, it’s an important part of the overall process. Many people choose to have a will.
- Trusts are sometimes confused with a will. In a future blog, we will talk in detail about what trusts are and why you may want to use one. There are also trusts for minor children that should be set up and documented within an estate plan. To learn more about this, be sure to check back in our future blog posts.
- Guardianship for minor children in the event of an untimely death should be considered and documented in an estate plan.
- In addition to choosing a guardian for minor children, it’s also a good idea to plan for guardianship if incapacitation becomes an issue at some point.
- An executor for estate documents should be chosen so that they’re able to oversee all aspects of an estate plan in the event of your death. They will also oversee things as they enter into the probate process.
- Funeral arrangements may be left in detail for loved ones to follow within your estate plan. To learn more about this be sure to visit back soon.
- Beneficiaries should be chosen for distribution of assets. They should also be considered for life insurance, 401(k) plans, or IRA beneficiaries, as well.
- If you plan to do gifting annually to help reduce estate taxes, it’s important to consider this when going over your estate plan or while creating a new one.
- A power of attorney for both medical and financial aspects should be considered. You can choose different individuals for each or the same person for both powers of attorney.
Remember, this overview is just the beginning of the information you will find over the course of this blog series. Coming up, you’ll find more information about each of these aspects in estate planning. Be sure to check back regularly.
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.