When it comes to estate planning, many people take the time to focus on the basics. For example, they know exactly what will happen to their assets upon their death. And while this is important, there are a variety of other questions that require your attention.
As you begin to focus on other estate planning questions, you’ll come to find yourself collecting information that puts you and your loved ones in a better place. For those who want to reach deeper, here are some of the many questions you may need to address:
- What steps have you taken in regards to incapacity planning?
- Have you considered where you will live should you no longer be able to care for yourself?
- Who will make key medical decisions if you’re unable to do so yourself?
- Do you have any idea of how your medical bills will get paid should they begin to pile up?
- Have you taken steps to care for a special needs loved one, such as a child?
- Are you familiar with the probate process?
- What will happen to your business upon your passing?
- Do your estate and retirement plans align?
Yes, it takes some time to answer these questions. And yes, you may have more questions as you begin to address these. However, don’t sell yourself short by ignoring them and hoping that everything works out in the long run.
If you want to make the most of estate planning, you owe it to yourself and your family to answer these questions. Without doing so, you’ll struggle to create a plan that provides everything you need now and in the future.
If these questions – among any others – are bogging you down, contact our law firm to express your concerns and get back on the right track. We can answer your questions, help you create a better estate plan, and put your mind to rest once and for all.