You know why it’s important to have a will, you know what will happen should you die without a will, and you’ve decided whether or not to hire a lawyer. Now it’s time to write your will. But where do you begin?
Evaluating your estate
Start by evaluating your estate. The first step in writing a will is to figure out what your estate consists of. Having a list of everything important you own will make it easier to decide what needs to be addressed in your will. If you are working with a lawyer for estate planning, this list will save you time and money.
What should I include on my list?
This is a list of items typically included in estate planning. You may not have all of these and you could have items that are not included here. Remember to write down the value of each item.
• Life insurance policies, face value (policy amount) and cash values
• 401 (k) plans, retirement funds, IRAs, Keoghs, annuities, etc.
• Bank Accounts, Savings bonds, CDs
• Investments—Stock and money market accounts, bonds, mutual funds, etc.
• Business interests and property Continue reading “Happy New Year!” »