Understanding the issue
Estate planning generally involves preparing documents that express how a person wishes their assets to be managed and transferred, who should make decisions if they become unable to, and who should care for minor children.
A plan should be tailored to the individual's circumstances and coordinated with beneficiary designations and asset titling. It should be reviewed after important life events such as marriage, divorce, births, deaths, relocation, or significant changes in assets.
Common situations that may require legal advice
- You have no will or your will is several years old
- You recently married, divorced, or welcomed a child
- You want to provide for a family member with special needs
- You own property or a business that requires succession planning
- Your beneficiary designations may not match your wishes
General procedural considerations
- 1.Reviewing family circumstances and goals
- 2.Inventorying assets and how each is titled
- 3.Preparing and properly executing documents
- 4.Coordinating beneficiary designations
- 5.Scheduling periodic reviews