What are the Basics of Estate Planning?- Estate planning attorneys address two significant issues: creating plans to distribute assets after death and planning for incapacity. These two prongs of estate planning protect you and your loved ones in times of great stress, says a recent article from the Spokesman-Recorder, “Estate Planning Basics: Protecting Your Legacy.”
An estate planning attorney helps with these aspects:
There are steps to take to create an estate plan that applies to everyone, regardless of the value or complexity of their estate. Many estate planning attorneys use checklists to help clients organize their information and clarify their wishes.
Inventory assets. This list should include everything from your title to your home to your insurance policies, your car(s), bank accounts, investment accounts and safety deposit boxes. You should also Include an inventory of digital assets.
Name primary and contingent beneficiaries on retirement accounts and insurance policies. These assets often make up most of an estate. However, if the beneficiary names are outdated or incomplete, the assets will either go to the wrong person or be included in the probate estate. These assets are not governed by what’s in your will.
Create and sign a will in accordance with your state’s guidelines. If there is no will, the court will decide who should be your executor, guardians for any minor children and how assets will be distributed.
Have Power of Attorney and Health Care Power of Attorney documents created. These documents are invaluable in case of incapacity. They allow a person or people of your choosing to act on your behalf if you are too sick or injured to express your wishes. Without them, loved ones will have to go to court to obtain a guardianship, causing unnecessary delays, stress and costs during an already difficult time.
Create a contact list of your professionals. The people stepping up to care for you or to manage your estate will need contact information for your estate planning attorney, financial advisor, accountant and family members involved in handling your estate. Talk with your family about your wishes, plans and the location of your documents, so they can act on your behalf without having to hunt for them in your home.
Having an estate plan prepared by a professional allows you to plan, clarify your wishes for your family and enjoy the peace of mind that comes with knowing you’ve taken care of this critical task.
Schedule your phone consultation: THE LAW OFFICES OF CLAUDE S. SMITH, III
What are the Basics of Estate Planning?
Reference: Spokesman-Recorder (Nov. 4, 2025) “Estate Planning Basics: Protecting Your Legacy”
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