Preparing your estate is an important task that ensures your assets are distributed according to your wishes after you pass away. Here are some steps you can take to properly prepare your estate:
1. Create a Will – A will is a legal document that outlines how you want your assets to be distributed after you die. It is important to work with an attorney to create a will that accurately reflects your wishes.
2. Name Beneficiaries – You should name beneficiaries for your retirement accounts, life insurance policies, and other assets. This ensures that these assets go directly to the people you choose, without having to go through probate.
3. Consider a Trust – A trust is a legal arrangement that allows you to transfer assets to a trustee who will manage them for the benefit of your beneficiaries. This is a great option if you have complex financial or family situations.
4. Plan for Incapacity – In addition to planning for your death, it is important to plan for the possibility that you maybe come incapacitated. This can include creating a power of attorney and a living will.
5. Review and Update Your Plan Regularly – It is important to review your estate plan regularly to ensure that it still reflects your wishes and that it takes into account any changes in your life circumstances.
We all know we won’t live forever, yet, “the business of dying” is something none of us excitedly embrace. However, none of us wish to leave our loved ones with additional burdens. I personally put this task off for far too long. Yet, if something happened to my husband and myself, we would be leaving four children, our personal home, investments, and business decisions in the hands of our grieving parents. Regardless of age, if you own a home, this is a task you should not delay. I’d love to connect you with local estate planning attorneys if you do not already have one in mind.
“It is important to review your estate plan regularly…”
Take this as a sign to give me a call if this has been on your to-do list and you’ve been putting it off. I pride myself on providing an incredible real estate experience before, during and after the sale of a home, so even if you’ve never worked with me before, I’m happy to plug you into the best local resources to ensure you are in the best hands. I’m very passionate about this subject, as I’ve seen many families deal with the consequences associated with a lack of proper estate planning. I’d love to help point you in the right direction!
Beth McGeorge Team, RE/MAX Jefferson City
When hiring the Beth McGeorge Team for your real estate needs you receive the highest level of professionalism and service. Our reviews speak for themselves, providing insight to what makes our team special in how we serve our clients. We ensure the process is outlined clearly, we will cater to your specific needs and ensure that even the tiniest details are met with precision. My favorite quote is “Your smile is your logo, your personality is your business card, and the way you make others feel is your trademark.” I wake up each day striving to be better than the last. I’d love the opportunity to serve you with all your real estate needs in Mid-Missouri.
Beth McGeorge
Beth McGeorge Team – RE/MAX Jefferson City
2316 St. MarysBlvd., JCMO
(573) 761-3489
bethmcgeorge.com