Estate Planning Checklist

Estate Planning Checklist: Questions to Ask 

How do you want your real estate, financial assets, and personal property treasures  to be distributed?  Some during your lifetime and/or all after you pass away?  Even if you have many years of thriving retirement ahead, it’s important to have the right documents in place when life throws you that curveball…..short or long term incapacity, resignation as trustee, or death.  . If you have an estate plan, now is a good idea to review and revise as needed. If you don’t have an estate plan,  then you are telling government officials and, maybe, unseemly relatives to decide on your behalf.   Don’t delay – it’s time to talk to an estate planning expert about your options.

Questions to Ask about Estate Planning

Asking the right questions is a powerful way to assess your preparation and find areas that need to be addressed. Here are a few questions you might ask yourself when finalizing estate planning details:

1. Do you have a current will? Written documentation is an essential step to documenting your assets and assigning them to beneficiaries. If your will was written years ago, then make sure to update the information so it’s an accurate representation of your current wishes.
2. How detailed is your plan? A basic overview is better than nothing. But a detailed plan goes a long way to minimize disagreements among family members. Your estate plan should address big assets, such as the house and car, as well as smaller items with sentimental value. 
3. Is your documentation legally binding? A notebook paper signed without witnesses doesn’t have the same bearing as an official document. While some states allow handwritten wills, others require witness signatures and more. Make sure to talk to an estate planning attorney to ensure that your will is legally binding.
4. Have you considered other administrative details? Not only will your assets be distributed, but other details need to be addressed such as funeral planning, financial accounts, business ownership, pet custody, and more.
5. Who is really the best person to be in charge?  A family member? Do the siblings REALLY get along?  Do you think that the person in charge of your health care advocacy should also be in charge of monetary decisions? What about a 3rd party independent advocate for your wishes?  https://pfac-pro.org/

The goal of estate planning is to think long and hard and not through rose colored glasses as to what is in your best interest during your lifetime and after you pass away.   At Greenwald & Gerke, we know that real estate is a valuable part of your estate plan. As you are considering your options for the future, we want to help you find the right real estate solutions.  We’re here to make the rest of your life, the best of your life!  Call our team to learn more: (844) 782-9674.

At Greenwald & Gerke, we are committed to providing our clients with personalized solutions for their desired lifestyles. If you need real estate services for retirement, then contact us to learn more about the full-service solutions we offer: (844) 782-9674.