Estate Planning for Beginners

1. DECIDE - How will you grow and spend your money?  What will be your legacy?  Who will benefit from your wealth?

2. DESIGN - What is your current family and financial situation?  What strategies and tools are available to meet your current and future needs? 

3. DISCUSS - Who is part of your plan?  Who should provide input to help you with your plan?  What do the participants in your plan need to know? 

4. DOCUMENT - Is your Will current and valid? Are your Powers of Attorney in place? Are all of your wishes documented so your estate can be administered accurately?

5. DISTRIBUTE - Does your family know your wishes? Does your Executor have all the information to administer your estate? Does your estate plan clearly outline how you want to distribute all of your wealth?

6. ANNUAL REVIEW - Does your estate plan still reflect your wishes?  Are the participants still appropriate? Do you need to add or remove any elements of your plan (e.g. family changes, tax laws)?