A Step-by-Step Guide to Creating Your Estate Plan
Estate planning is often considered a task for older people or the wealthy, but the truth is that everyone can benefit from having a comprehensive estate plan . Whether you’re just starting your career or have accumulated substantial assets, an estate plan helps ensure your wishes are fulfilled during incapacity or death. Creating an estate plan might seem overwhelming, but it doesn’t have to be. By following a few essential steps, you can know that your loved ones and assets will be taken care of according to your preferences. Understanding the Basics of Estate Planning Estate planning involves the preparation of legal documents that outline how your assets should be distributed after your death, as well as how your financial and medical decisions will be handled if you become incapacitated. An estate plan aims to ensure that your wishes are carried out without unnecessary complications, taxes, or family disputes. It typically includes a will, power of attorney, and health care direct...