Estate Planning – Baby Steps

Just like so many other things in life… let your Estate Plan starts by taking some easily doable baby steps. Securing your funds for your heirs can begin in some very simple ways. Some can be done online or with a quick trip to your bank.

A Basic Estate Plan should include a few Key Documents – which Everyone Should Have:

• Will
• Trust(s)
• Power of Attorney (POA)
• Medical Directive
• Living Will (POA) – Note: Your Medical Directive and Living Will can be combined into one document, in which you lay out both the kind of care you want and who you want making those decisions, should you not be able to advocate or speak for yourself.

Other Fairly Easy & Low or No Cost Steps You can Take

• Set up POD/TOD Accounts with your Bank or Broker
• Create a Life Estate for your Residence

Once you’ve got your “Estate Legs” steady… how about taking a bit of a jog with some more advanced documents….

• Have a Letter of Intent at the ready. This can do wonders to expedite the release of funds & assets held in Banks and Broker Institutions.
• Have a Provision for Digital Assets document. Not just for any Crypto Currency you may have… but what happens to all your photos, documents, and social media residing either on your hard drive or in the Cloud?
• Create a List of Important Documents (What they are… and where they are!)
  • Life Insurance Policies
  • Annuities
  • Pension Accounts
  • Marriage Certificates or Divorce Records
  • Birth Certificates
  • Adoption Certificates
  • Real Estate Deeds
  • Stock, bonds & Mutual Fund Certificates & Accounts