Drafting essential estate planning documents sooner rather than later will help protect your family in all eventualities. Creating written plans that are comprehensive, detailed, and accurately phrased can be challenging. In addition to seeking legal counsel, use the following do’s and don’ts to ensure you’re crafting the best arrangement for your circumstances. 

Do:

Actually fund your living trusts. 

If your estate plans include one or more living trusts, don’t forget to fund them. Believe it or not, people often complete all the steps necessary for setting up a trust, including preparing and then signing the agreement, but then forget to actually transfer any assets to it. 

Review your arrangements periodically. 

Taking a proactive approach to estate planning will ensure you’re as prepared as possible for every contingency. Still, your situation will likely change over the years. Update any arrangements accordingly. Attorneys typically recommend reviewing your will annually, as well as after every major life transition, such as family growth, the acquisition of new assets, or the diagnosis of a serious illness. 

Don’t:

Use a template you found online. 

It may be tempting to take a DIY approach to estate planning, but when your family’s financial security is at stake, turn to the professionals. The templates that are available online are essentially one-size-fits-all and may not account for your unique situation. If you’re determined to make the arrangements on your own, at least have a lawyer review them once you're done. 

Ignore potential tragedies. 

Pondering your own mortality isn’t fun, but if you truly want to protect loved ones and relieve them of potential financial or decision-making burdens, you must consider all possible scenarios. If you have children, for example, and something were to happen to both you and their other parent, who would take care of them? If you were ever to become incapacitated, what kind of treatment would you want? Considering these questions and your desired outcome will ultimately give you peace of mind. 

For attentive guidance when making critical estate planning arrangements, turn to Zangari Cohn Cuthbertson Duhl & Grello P.C. in New Haven, CT. Representing clients throughout all of New England, this firm has been providing personalized legal counsel since 1946. They help clients navigate even the most complicated legal proceedings, including wills, trusts, and powers of attorney. To explore all the services they provide, visit their website. To request an initial consultation with an attorney, call (203) 789-0001.