Many people these days wonder about what do I need to do before I die and what is the process. Well, the answer to those questions is: Create an Estate Plan. By creating an estate plan, it helps open up the options about money distribution in a will or trust to the heirs of your inheritance. In fact, there are 12 easy steps to follow in order to make sure that your estate plan can go smoothly without having the risk of going to probate court.
- Create a Will
- Consider creating a trust
- Make Health Care Derivatives
- Make A Financial Power of Attorney
- Protect your children’s property
- File Beneficiary Forms
- Consider having Life Insurance in place
- Understand any estate taxes that will be made
- Make sure the funeral expenses are covered
- Make the final arrangements
- Protect your business
- Make sure your documents are stored in a secure place
By following these steps, your estate plan will be carried out smoothly and successfully without any further negotiations. If you don’t create an estate plan, your future heirs would need to go to probate court to negotiate over your inheritance which is not good at all. Avoid going to probate court and create an estate plan today!
Michelle Profit is an estate planning attorney serving Maryland and the District of Columbia. A Harvard Law School graduate, she has worked in the financial services industry for over 20 years. A dedicated advocate for all of her clients, Michelle Q. Profit personally handles each client case from start to finish to meet the client’s needs and objectives. Michelle listens in the consultation sessions and works with any other client accountants or financial planners to create a comprehensive estate plan.