![]() ![]() It takes away a lot of financial burden regarding funeral expenses and can help alleviate any debts if you leave any behind. Even if you’re single, a life insurance plan is necessary. Therefore, if you have children, you should have a policy. However, planning for the future means now more than ever due to the pandemic. Have a Life Insurance PlanĪ common misconception is that you need not consider life insurance if you’re young and healthy. ![]() You can register your stocks, bonds, and brokerage accounts over to a beneficiary in each state. Once again, if you want to help your loved ones skip the probate process, you should name a beneficiary that will manage your bank accounts and retirement plans after you’re gone. ![]() These documents rolled into one is called an advance health care directive. A durable power of attorney is the person that you chose to make decisions if you can’t. A health care directive involves having a living will and a durable power of attorney for healthcare. Health care directives ensure that you have protection if you can no longer make medical decisions for yourself. When you hold your property in a living trust, it means that your loved ones won’t have to deal with going through probate court, which can be a time-consuming and costly process. In a will, you can also name who you want to take care of your children if both you and your spouse passed. The purpose of a will is to state who you want to take over or inherit your property. For that reason, you can count on Millman Law Group. However, sometimes it’s challenging to know where to begin. If you’ve researched estate planning, you understand how significant it is to have one, especially if you want to carry on your legacy. While this checklist may not be exhaustive, it’s a helpful guide to streamline your thinking regarding estate planning. Today we’re offering an estate plan checklist. We hope that you find this estate plan checklist helpful ![]()
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