The COVID-19 pandemic has upended lives and livelihoods all over the world and has generated a great amount of uncertainty in the process. While our worlds slowly open back up, it is a great time to think about estate planning.
Estate planning is the process through which you make legal decisions about the disposition of your property at death and who will have the ability to make decisions for you if you are living but incapacitated and unable to make decisions about your health or finances. Having an estate plan is important because it provides you with control over your assets and grants peace of mind. Additionally, a well-executed estate plan can help maintain family harmony and avoid considerable expense at your incapacitation or demise.
At Bunger & Robertson, the estate plan process begins with an initial meeting. This is an opportunity for you to discuss your goals and what you would like to gain out of this process with your attorney. You will also be given some forms to complete prior to the meeting. These forms are designed to provide basic information about your life and your assets that help your attorney draft your estate plan to fit your life. Every client, and each estate plan therefore. If clients elect to bypass completing the forms we are able to gather information by other means.
Once the forms are completed and the meeting held, your attorney will be able to begin drafting your estate planning documents. This process necessarily requires your attorney to follow up with you and clarify certain parts of your estate plan. Drafts will be sent to you for your review. Once the documents have been finalized, you will meet with your attorney again to execute the documents.
The estate panning attorneys at Bunger & Robertson will also work with you to make any needed changes in your current assets, including in particular, beneficiary designation changes for any insurance and retirement accounts. If is essential to update your beneficiary designations to coordinate with your overall estate plan
The estate planning process, however, does not end with signing the documents. It is important that you continue to communicate with your attorney about changes in your life and with your assets. This helps your attorney make sure that your estate plan still fits you and your goals.
If you have questions about estate planning, do not hesitate to contact an estate planning attorney at Bunger & Robertson, who will guide you through this process. From estate planning, to advising, to litigation, Bunger & Robertson attorneys are ready to provide legal advice in a caring and efficient manner.