Having an estate plan is one of the most important things that anyone can do. Not only does an estate plan give you peace of mind regarding your final wishes, but estate planning also allows for your loved ones to prepare themselves for what you may ask them to do after your passing. Residents of Vancouver, Washington should mark a few things off their estate planning checklist while they are still of sound mind and body.
Designating an executor
The executor that you choose is one of the most important people involved in your estate plan. Your executor is solely responsible for finalizing your estate plan, submitting documents to the court, paying all of your outstanding debts from the estate and dispersing your assets once your estate clears probate. Not only should you choose carefully, but you should also have a very detailed conversation with the person you choose as executor.
Planning for interment
Many people shy away from planning their funeral while they are still living but doing so leaves your family with the painful process of planning your funeral. Not only can you have a pre-paid agreement in place with the funeral director of your choice, but you should also discuss your wishes with your loved ones. Planning for your interment ensures that your loved ones don’t have to come up with funeral expenses while also making sure that they meet your wishes.
Compiling pertinent information
Estate plans consist of many forms and legally binding documents. Sadly, many people fail to keep these documents in one place, leaving their loved ones to scramble around to find everything. Not only should you have a file with all your documents in it, but you should also ensure that your estate planning and probate attorney has a copy as well.
Employing an estate planning attorney is one of the most responsible things you can do when compiling your estate plan. This attorney can help gather documents and ensure that everything meets your state’s legal requirements.