Autumn is the perfect time of year for estate planning, whether you’re establishing a will or trust for the first time or updating your estate plan. With kids back in school, this is a calmer time of year. You can avoid the rush of the winter holidays, spring tax season, and summer vacation plans. Learn more below about what you should address in your autumn estate planning.

First-Time Estate Planning

The first step in estate planning is to make a list of assets. This includes property, cars, banking and retirement accounts, investment portfolios, and valuables like artwork. You then need to determine who should receive these assets when you pass on. 

You can choose between a living trust or a will. In some cases, a trust is preferable because it bypasses the probate process. When a person passes on, their will must first be authenticated by the probate courts. This can be time-consuming, and it delays when beneficiaries receive their inheritance. The best way to figure out whether a will or trust is right for you is to consult an attorney.

Revisiting Estate Planning

If you’ve already completed your estate planning in the form of a will or a trust, revisit the documentation this fall. Check whether your list of assets needs to be updated and whether your beneficiary designations are still appropriate. If you’ve been divorced and remarried in the past year, for instance, you’ll likely want to include your new spouse as a beneficiary instead of your ex. Your attorney can make these changes for you.

Steven P. Ciardiello, Esq., P.C. provides experienced estate planning services to residents of Hamden, CT, and the surrounding areas. Attorney Ciardiello is also licensed to practice in New York. With over 30 years of experience, he and his team offer friendly and honest legal counsel you can trust. Review his list of practice areas on his website. Book your consultation with the lawyer today by calling (203) 248-8000.