How An Estate Planning Checklist Can Help You Prepare For The Future

8 June 2017
 Categories: Law, Blog

Planning what will happen when you die might not be a pleasant event, but it is important, and it is something you should do before it's too late. A visit to an estate planning attorney is the first step you should take to start planning for this event, and your attorney is likely to have you fill out an estate planning checklist. Here are three things you should know about this type of checklist.

What is an estate planning checklist?

Most estate planning attorneys want to make sure they help their clients plan their estates in the best way possible, and a great way to make sure they cover everything is by asking clients to fill out a form that is often referred to as an estate planning checklist.

This form may be several pages long and will ask a lot of questions. The main purpose of the form is to make sure the attorney fully understands your financial position and your desires when you pass away.

What questions are on this form?

Because the attorney will want to know a lot of details before offering assistance for your situation, the attorney will refer to the form you fill out. Here are some of the types of questions you should expect to see on the form:

  • Personal questions about yourself – There may be questions about yourself, such as your age, birthdate, address, and occupation.
  • Questions about your family – It will also ask about your marital status and your children and grandchildren, and this is to gain an understanding about your possible heirs.
  • Financial questions – The form will also ask a lot of questions about the money you have and the things you own. It may be very specific about these things, so you should be prepared to answer a lot of questions. It may also ask you questions about your debts as well.
  • Legal matters – You may also have to answer questions about legal things, such as who you would choose to have Power of Attorney rights if this is ever needed.

How will the attorney use this?

Once you are finished answering the questions, the attorney will have a good understanding of your position and desires. From there, the attorney will determine some good options for your estate plan, and he or she will present these to you.

Planning for your future is an important thing to do in life. If you have not yet started this, now is a good time to begin, and you can do so by contacting an estate planning attorney.