Many people have the mistaken idea that getting an estate plan is an overly complicated process. They let this idea stop them from doing their own planning and they just keep putting things off.
However, estate planning does not have to be complicated.
Recently Personal Liberty offered some tips to simplify things in "Nuts and Bolts of Estate Planning," including:
· Organize all of your financial and asset documents so you know what you have and what you need to plan for.
· Make the important decisions about who you want to have your assets and how much everyone should get.
· Think about how your heirs might disagree and how any conflicts can be avoided.
· Your plan does not need to be perfect. You will not be able to create a plan that pleases everyone completely.
· Whenever possible keep your plans flexible so they are easy to change when circumstances change.
· Make sure you are choosing responsible people to act as your executor and trustees.
· Do not surprise your heirs with too much. If you are planning something unusual, it is a good idea to let them know.
An experienced estate planning attorney can help you avoid missteps.
Reference: Personal Liberty (Oct. 28, 2016) "Nuts and Bolts of Estate Planning."