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Estate Planning Do's and Don'ts According to the Pros
March 7, 2022 | Posted by: Marc Crossman
Estate planning can be confusing for people, as they may not know what is right to do when it comes to their estate. Keep reading for more information!
Do Your Research
This means that you need to research what options are available to you and what will work best for your specific situation. Talk to an estate planning lawyer to get their opinion on what you should do and make sure that you make the right choices for your family.
Don't Procrastinate
One of the most significant estate planning don’ts is to procrastinate. If something happens to you and you don’t have a will, the state will determine how your estate is distributed. The best way to avoid any problems is to start your estate planning today.
Do Consider the Person in Charge of Your Affairs
You need to make sure that you are picking the right person to be in charge of your affairs. Some things that you might want to consider are their ability to handle the task at hand, if they can organize and manage everything, and if they are emotionally stable.
Don't Leave Things Up in the Air
You have to finalize everything when it comes to estate planning and get everything in order to ensure all of your bases are covered. Make sure that you talk to your loved ones about your plans and tell them what you want to do. Leaving things halfway means creating more work for your loved ones and could lead to disagreements.
Do Create a Last Will
One of the essential things regarding estate planning is creating a last will. This will let your loved ones know what you want done with your estate. Your will should include information on who you want to inherit the estate, what type of funeral you want, and more.
Don't Forget About Your Pets
If you have pets, you need to ensure that they are taken care of after your death. Make sure that you include the person you assign in your plans to ensure your pets are taken care of after your death.
Read the full article here:https://www.upscalelivingmag.com/estate-planning-dos-and-donts-according-to-the-pros/
Estate planning can be confusing, but following these dos and don’ts can help you get started on the right foot. Need a referral or want more information? Call us today at 780 701 3888 or email marc@albertamortgagepros.ca
