A Quick Guide to Creating an Estate Plan

Clients consulting an estate plan to the agent

The future is not yours to see, but it is yours to prepare for. Thus, the best way to create a good future and build a secure life for the people closest to your heart is to make a will. Here’s a guide to creating an estate plan.

Seek legal advice

Seeking legal advice about creating an estate plan is the best way to prepare for the future. Family lawyers in Townsville will assist you on how to divide your assets according to your wishes or the needs of your intended heirs. A lawyer will also guide you in drafting your estate plan, safeguarding your will, and following all the directions stipulated on it once you assign him the role of an executor. This role gives him the responsibility of filing estate and tax returns, as well as distributing your assets.

Seeking a family lawyer in estate planning comes in highly essential especially if you want to avoid conflicts of interest between intended heirs. An executor lawyer also assures that everything you’ve specified in the will is accomplished without the fear of heirs being disinherited by other heirs. This comes handy if you have children from previous marriages who are rightful heirs to your inheritance.

Do disability planning

Aside from estate planning, create a plan for what happens if you become physically or mentally incapacitated to make a will. Disability planning is as equally important as estate planning, since it is your contingency plan for a situation you have no control over, but can happen anytime.

To do disability planning, you have to create a power of attorney assigning someone to take care of your financial undertakings when you become incapacitated to do so. This someone could be a trustworthy family member or a lawyer.

With this guide, drafting a will becomes a hassle-free planning activity. Bridge the ones you love toward a brighter future.