Estate Planning: Do’s & Don’ts When Getting Started
Many people decide it is time to write an estate plan when they realize just how much they have built in the course of their life thus far. When thinking about what to write in your will, it is normal to feel some sadness and difficult emotions. Planning for a time when you are no longer here to be with your loved ones can be incredibly distressing.
An attorney at Martin Wren, P.C. can offer advice as you start the process of creating your will. Our team of compassionate and skilled attorneys have been working for protecting the assets of people for many decades. We want you to feel confident that your loved ones will one day obtain the treasures you wish.
It is important to understand the various do’s and don’ts when it comes to getting started writing your will and final estate plan. After reading the information below, feel free to reach out to speak further with any member of our legal team.
Do: Take plenty of time to think about who will be the executor of your will.
The person you appoint to handle your estate plan in the event you pass or become incapacitated should be someone who is reliable, understands their responsibilities & is willing to take on this role.
Don’t: Forget to edit your estate plan as life changes.
Many people establish an estate plan and then think all the work is done. As life changes, relationships form or end, and new family members are born, you may want to consider updating your estate plan regularly.
Do: Remember to include your pet companions.
For most people, animal companions are considered part of the family. So don’t forget to include them in your estate plan! List a guardian who you wish to take ownership of your pets in the event you were to pass. You can even start putting money into a pet trust that would specifically go to the guardian of your animals.
Don’t: Hire an inexperienced attorney.
When looking around for an attorney to help you write your estate plan and offer advice, choose someone who has experience working with this kind of legal documents. Hiring an attorney who is inexperienced can result in documents that are not legally binding or leads to financial loss.
Do: Start writing your estate plan now.
Even if you think it is too early, start thinking about your estate plan now. Writing a plan can help make things run more smoothly for your loved ones in the future. You can also rest assured that your belongings, assets and finances will be handled in the way you wish if an unfortunate occurrence were to happen.
An attorney at Martin Wren, P.C. can help guide you through writing your will and estate plan. Let us help you sleep better knowing your cherished family members will receive a part of you in the event something unexpected were to happen. Your legacy can live on through a thorough and detailed estate plan.
Call us today at (434) 326-5466 for a free consultation!