There are many details to consider when helping a client set up a will or estate plan, from assigning an executor or power of attorney, to choosing beneficiaries, to setting up a trust and more.
The process of creating any good estate plan includes taking an inventory of valuable assets that will need to be managed or dispersed upon someone’s death, including:
- Real estate
- Investment accounts, cash, stocks and bonds
- A business or intellectual property
- Personal property such as jewelry, vehicles, artwork and furniture
Often, miscellaneous items or heirlooms that may not hold great monetary value but have significant meaning to individual family members are also included in estate planning.Read More