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Creating a comprehensive estate plan can be a lot of work. After all, you don't want to overlook any beneficiaries or assets. In addition, your plan must include arrangements for any possible eventualities due to life’s unpredictability. While estate planning may sound like an overwhelming venture, you can simplify the process with the following tips. 

Do:

Start with a will.

A last will and testament is the foundation of any comprehensive estate plan. In a will, you can name an executor, establish guardianship over any minor children, bequeath assets to loved ones, and include any funeral or burial requests. 

Review your documents periodically. 

estate-planningSince your situation will inevitably change over time, your estate plan should as well. It’s typically a good idea to review your documents at regular intervals, such as every two years. You should also look them over after major life milestones, such as getting married or having children, because they’ll inevitably need to be modified to reflect the changes that have occurred over time. 

Don’t:

Take a DIY approach.

Just because there are dozens of estate planning templates online doesn't mean you should use them. While such templates can be helpful for getting started, they don't take into account all the nuances of any given situation. If you’re committed to creating an estate plan on your own, at least have an attorney review it upon completion to ensure its terms are both legally binding and unambiguous. 

Put off getting started. 

People often assume estate planning is only for the elderly or the terminally ill. If you want to protect your loved ones, though, it’s wise to draft a will as soon as possible. In the event that something does happen, having arrangements already in place will relieve a considerable burden for surviving family members. 

 

 

The estate planning team at Monteleon Law Group is proud to help clients protect their families in all eventualities. Located in White Plains, NY, this full-service firm provides personalized counsel in a variety of areas. In addition to assisting with wills, trusts, and guardianship, for example, they can help you resolve family law disputes, navigate the personal injury claims process, and fight criminal charges. To request a consultation with a knowledgeable member of their team, call (914) 840-2529. Learn more about their legal services online.

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