When's the last time you looked at your will?
You’ve considered how you want your estate to be distributed after you die. Hopefully, you’ve even written a will to make sure your wishes will be followed. So, your estate is planned…right?
1. Is your will current? Assuming you’ve written your will , how long has it been since you drafted it? Have any major changes in your life taken place since? If so, it’s likely time to update it. 2. Is your will detailed enough? When most people think of their estate, they think of the big things — the house, the car, the diamond bracelet.
4. Have you planned your funeral in full detail? When you die, your loved ones will likely be reeling. So why make them plan out your funeral ? You can help them immensely by preplanning your funeral. 6. Have you made arrangements for the care of those who survive you? If you are a caregiver to a parent, spouse, child or another loved one, it’s wise to have a detailed plan in place about who will care for them if they outlive you.
7. Do you have a method in place to distribute your personal property? It’s important to figure out how your heirs will divide up the possessions not explicitly listed in your will. Ultimately, everything from dishes to lawn care equipment will need to be either distributed to one of your beneficiaries or donated or sold.
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