Important tips for getting started on estate planning

On Behalf of | Sep 3, 2020 | Estate Planning

Estate planning can cover a wide variety of topics. Though asset distribution after death is certainly something typically at the top of most Nevada residents’ lists, it is not the only matter to consider. In fact, you may want to create a plan that addresses your assets, your care in the event of incapacitation and much more.

Knowing where to start when it comes to creating this important plan is not always easy. You may feel a bit overwhelmed by all of the planning options available, but before you feel intimidated, remember that you can obtain help throughout this process in order to find the best options for your specific needs and wishes.

Tips for estate planning

Because estate planning is an extensive process, it is easy to make mistakes or overlook important matters that may have benefited from more specific instructions. As a result, you may want to consider the following tips when creating your plan:

  • Remember to include smaller, less valuable items in your plan. Often, family members are most interested in sentimental items, and forgetting to include specific details for them could cause conflict later.
  • Having specific instructions for your house can also prove vital. You could set up a trust to take ownership of the property, appoint a co-owner with the right of survivorship, put instructions for the house in your will or take other steps to ensure that it is not left inaccessible to your family during probate.
  • Consider that probate is not for everyone. This process can take a considerable amount of time and leave loved ones waiting for inheritances, so you may want to consider the various ways in which you could help your family avoid probate.
  • You can include wishes for palliative care that parties should follow in the event that you become seriously ill. You can provide specific instructions that you believe would fit your circumstances.

Of course, these tips are only a few of the many that could help you during the estate planning process. If you feel that the time has come to get started on your plan, you may want to gain information on your available options.

Gaining the right info

Because so many resources exist for finding information, you may have a difficult time understanding what applies to your situation. Fortunately, you could enlist the help of an experienced attorney who can explain your options and help you draft a comprehensive plan.