Simple Estate Planning Steps

Don’t wait to do your estate planning.  Instead, take that weight off your shoulders right now and ensure there’s a plan in place if the unthinkable were to happen to you.  Here are four steps most people can follow to take care of their estate planning needs:

1. Prepare a master information document.  This should provide all the information one would need to close out your accounts and obtain any balances you might have.
2. Purchase a life insurance policy.  Buy a term policy if you have anyone who relies on your income.
3. Write a will.  Execute a will to ensure your personal items are given to the right people.
4. Include guardianship plans in your will.  Decide who should take care of dependents. 

See Trent Hamm, 4 Steps for Simple Estate Planning, US News, Dec. 17, 2013.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.