Most Kent area residents don't want to think about what is going to happen when they die. It's a depressing topic for a lot of people and can create worry and sadness. Of course the inevitable will happen one day and having an estate plan is important. There are three important keys to having a good estate plan for heirs.
The first significant part of an estate plan is to have all important information readily available. Having an organized record that lists out accounts and legal documents is key in making sure heirs can easily find the information. The record should include professional contacts and family contacts, location of the will, living will and other estate documents, insurance information, list of all financial institution information, home and car insurance, credit cards, beneficiaries of accounts and user name and passwords for online accounts.
Second, once this information has been properly documented and secured communicating with family is important. Family members should know if they have key roles in an estate plan, such as a beneficiary, executor or guardian of children, and confirm that they are able to take on these roles.
And finally, people should communicate their wishes to their loved ones so that when they die their family will know what people would want with both medical and financial decisions. A legal professional skilled in estate planning can help a family with their estate plan needs and best communication practices. An estate plan doesn't need to be depressing and it can be such a relief to have everything taken care of in the way that people want it to be.
Source: The Tribune, "Tom Bentley and Courtney Weber: 3 keys to estate planning," June 22, 2015