Terms like wills, a living will, probate and other estate planning jargon can sound intimidating.
Although the estate planning process does take time and the expertise of a trusted lawyer, there is no need to let it overwhelm you or your family members.
Here are some simple tips to aid you in your own estate planning.
1) Store Important Documents Together
When the time comes to organize and plan your estate or draw up a will, it will be helpful to have all of your important documents organized and easily accessible. Make sure you locate and organize items like these ahead of time:
- insurance policies
- real estate documents like deeds
- certificates for stocks, bonds, annuities
- documents on bank accounts, mutual funds, and safe deposit boxes
- information about retirement plans, etc.
- information about debts (credit cards, mortgages, loans, etc.)
2) Establish a Financial Power of Attorney
Establishing a financial POA entrusts someone of your choosing the power to make decisions concerning your finances and other property should you become unable to do so yourself.
3) Write Down Health Care Directives
Making your wishes about your health care decisions known in writing saves guess-work if you become unable to communicate your desires verbally or otherwise.
Although this list of tips is by no means exhaustive, they are some simple steps you can take to make the process of planning your estate a little easier. To learn more about planning your estate in Tennessee, contact Batson Nolan. Our Estate Planning attorneys are well versed in writing wills, dealing with probate , and much more for Clarksville, Montgomery County, Springfield, and beyond!