Estate Planning is the entire process of preparing for the management and disbursement of your estate, both while you are still alive and after you die.
Your estate consists of all your assets, including your real estate, bank accounts, and pensions. However, it doesn't include your health, house, or other real estate.
An estate plan is a set of documents that specifies how a person wants to distribute their assets and take care of their dependents after their death.
If you've recently set up an estate plan, you're already ahead of the "game."
But if you're just starting, chances are good you're trying to figure out an estate plan on your own. And if you're currently in the process of figuring out an estate plan, you may be asking yourself, "Do these matter? Am I missing something?"
Here's a little secret: Have you looked at your estate plan recently? So check out a few of the questions to make sure that you've got everything covered.
To whom do you want to pass your legacy?
If you are ever incapacitated, whom do you want to handle your financial affairs?
We all have our ideas about what kind of medical decisions should be made for us when we aren't able to make them.
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