One of the biggest gifts you can give to heirs is an orderly estate. Keep your estate documents current. Review every three to five years and/or when there is a big change in your personal circumstances or preferences. Leave a roadmap for heirs to locate important documents, passwords, account log-ons, and your safe deposit box. Create a list of friends and colleagues you want notified. Remember to include information about care for your home, and pets and disposition of valuables, collections and heirlooms.
Communicate your preferences regarding end-of-life decisions and pre-plan final arrangements. It’s hard to make decisions for someone else. Do as much ahead of time as you can. Heirs will be grateful.
Excellent estate planning focuses not just on what you have but on who you are. Each of us has a personal history that shapes our values and habits with respect to money, how we decide when to save and when to spend, the importance of financial security, maintaining personal independence, and communicating with family. Your legacy plan provides a unique opportunity to reflect and communicate your personal views on family, work, giving, and inheriting.
D’Amico Law, PC offers estate planning services. Contact us today at 610-444-4555 or 610-932-4555 to learn more about our estate planning services.