If you have thought about what your family would do with your estate if you were to pass away unexpectedly, you have probably googled “estate planning checklist” in Alexandria, VA. Losing a loved one is stressful, and dealing with an estate that was not well-planned for can create extra headaches for your loved ones.
Spare Your Family Headaches
Handling the state of Virginia along with lawyers after your death can cause your family burnout, little time to grieve, and time is taken away from their family and friends.
Estate planning is much more than a will. It is the best way to get your affairs in order instead of leaving that burden on your family.
Make an Estate Planning Checklist
1) Create or Update Your Will
2) Create a Medical Directive
A medical directive will give guidance for medical decisions if you become unable to make those decisions. It may include removal from life support.
3) Create a Power of Attorney
A power of attorney (POA) will allow someone to represent you financially at your discretion.
4) Write a Letter of Instruction
A letter of instruction will inform your family of your final wishes, who to contact, and where to find financial and other important documents. The letter also could help your family avoid litigation on your estate.
5) Meet with a Financial Planner
Meeting with a financial planner will allow you to assess your net worth, assets and debts included. You can then make life insurance plans to account for any debt you may leave behind.
A revocable living trust may be needed to help protect your assets from probate. Find out how to choose a trust and estate planning attorney if you need additional help. [Link: Interviewing a Trust and Estate Planning Attorney near me]
6) Consider Setting up Guardianship
If you have children, consider a guardianship and trust will to outline what happens to them if you were to pass away unexpectedly. Without this document, family members or courts will end up making these decisions. Find out about securing guardianship.
Find out more about estate planning and get your questions answered.
How Can I Find an Estate Planning Attorney in Alexandria, VA?
The lawyers at King, Campbell, Poretz & Mitchell have extensive experience representing clients in estate planning. Feel free to contact us at kclaw@kingcampbell.com or (703) 468-8557 if you would like to consult with a trust and estate planning attorney.