5 Things to Know When Planning Your Estate - Winter Street Law Group

5 Things to Know When Planning Your Estate

There are a million things to consider when planning your estate: where money, property, and assets will go when you’re gone. However, it doesn’t need to be unbearably stressful. Here are several things to consider when planning your estate.

  1. Be specific. Be detailed when dictating who you want to have what, especially items with sentimental value. It’ll save your family much grief and hassle in the future.
  2. Consider your retirement plan. If you have a spouse, he or she automatically has the right to the money in your 401(k) plan unless he or she chooses to give it up (and that must be in writing).
  3. Only a trust or payable on death accounts remove your assets from having to go to probate court.  A will still lands your entire estate in Probate.
  4. Don’t play hide and seek. Although it seems fairly obvious, don’t make your plans, documents, and insurance policies difficult for your loved ones to find. They won’t benefit anyone if they’re under lock and key.
  5. Hire an expert to help. It’s worth it because a professional knows the legalities you may easily and unknowingly skip over. Winter Street Law Group can help set your affairs in order. Learn more and speak with an experienced lawyer by calling us at 775-786-5800.
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