How To Jump Start Your Estate Planning

How To Jump Start Your Estate Planning

No matter what age a person may be, estate planning seems to be the furthest thing from their mind. It is easy to convince people of the importance of estate planning, but it is difficult to get them inspired enough to start the process.

If you know you need to attend to your estate planning but just cannot get motivated, then there are steps you can take that would help you to get started. Once you start the estate planning process, you will find it easy to ride that momentum to the project’s completion.

Get An Action List From Your Lawyer

Your lawyer will need to generate an action list of things you will have to do to complete your estate planning. The amount of action items you have will depend on a lot of things, but you could be looking at a good sized list. The good thing is that lists tend to act as great motivators and it may be easier for you to get yourself motivated to do your estate planning when you know exactly what you have to do.

Get Guidance

Lists can quickly become demotivating if you are not sure exactly what you are supposed to be doing. As you get your action list from your lawyer, be sure to ask questions and get the guidance you need to complete each task. There is no such thing as a silly question, especially when you are working on something as important as your estate.

Leave The Complicated Issues For Last

Before you leave your lawyer’s office, the two of you should sit down and take care of all of the easiest action items on your list. You will be left with a list of action items that will require a great deal of thought on your part, but at least you will know that all of the easy items have already been taken care of.

Stick To A Realistic Time Frame

Remember that you can, and should, update your estate plan whenever you want. It is impossible and impractical to think that you can create an estate plan now that will stand for the rest of your life. When you sit down to answer your questions, you should put a time frame of no less than five and no more than 10 years. Answer all of your questions and settle all of your issues based on that time frame, and then plan on doing an update in 10 years.

Prepare To Fund Your Trust

People find that funding a trust is really just a process of transferring assets from one place to another, and it can be very tedious. This will probably be the most difficult part of your estate planning process to finish, but only because it can require a lot of paperwork and take time. You should do this last so that you can remind yourself that once this part is done, your estate planning is done.

Estate planning is not something people look forward to doing, but most people understand the importance of getting the process done. With a little help from your attorney, you can muster up the motivation you need to finally get this important process done and preserve your estate for your family.