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Estate Planning Checklist Made Easy

Posted on June 15th, 2022

Our experienced Mooresville attorneys at Daly Mills Estate Planning work closely with our North Carolina clients to remove the confusion and anxiety from important elder law subjects like wills and trusts, estate administration, and asset protection, so they can plan their futures with confidence.

We understand that outlining your estate plans can be intimidating. And if you do not know where to start, the process can become tedious and frustrating.

Our Iredell County estate planning lawyers provide our clients with the tools and resources they need to make informed decisions about their futures — starting with an estate planning checklist.

Here is how you can get started, without becoming overwhelmed by the process.

First Things First: Organize Your Assets

No matter how large or small your estate is, you must start the estate planning process by outlining your assets. Essentially, this means documenting everything you own.

Cars, real estate, bank accounts, investments, and personal property like artwork or jewelry should all be organized, outlined, and well documented.

Once you have a complete list of your assets listed on paper, list any title documents that indicate ownership, so it is clear who owns what. Whoever’s name is on the title of the cars, home, or other assets is the official owner of the property. Those details must be noted clearly in your estate plan.

Next: Evaluate Your Debts

Evaluating your debt will allow you to understand what you will be able to leave behind for your beneficiaries. Your loved ones can inherit debt, just as they can assets. When assets are sold through probate court to pay any outstanding debts, they can lose a considerable amount of value. That means your beneficiaries may receive much less than you anticipated.

If your assets and debts will break even, you can plan for your loved ones to receive financial peace of mind through auto, home, and life insurance policies that bridge the gap.

Choose a Power of Attorney Wisely

A Power of Attorney (POA) is legal authorization for a designated person to make decisions about another person’s property, finances, or medical care. When choosing a POA, you must choose someone you trust.

This person is going to be responsible for making decisions about your life when you cannot, so it is imperative that he or she understands your wishes and how you would like them conducted.

Create a Will That Reflects Your Unique Wishes

While most wills contain an individual’s last wishes, and how they would like them conducted, yours will be unique to your personal beliefs, long-term needs, and the size of your estate.

Consider crucial details like:

  • Funeral preparations
  • Asset distribution and management
  • Beneficiaries
  • Personal Representative

To ensure that your affairs are managed as you intended, partner with a skilled estate planning attorney in Mooresville to ensure no detail is left to chance. We can help you get started, so you know what to expect from the process.

Estate planning may appear complicated, but the result is peace of mind for you and your family.

We can help you move forward with confidence, so everyone is prepared for their role in your estate plans.

Contact Our Dedicated Estate Planning Attorneys in Mooresville, North Carolina Today

To learn more about how we can help you and your family create a customized estate plan to safeguard your futures, call us at (704) 286-8437 to schedule an initial consultation with our estate planning attorneys in Mooresville, North Carolina today.