Creating And Protecting Your Legacy

How can you begin the estate planning process?

On Behalf of | Oct 23, 2020 | Estate Planning |

If you are like many Americans, you probably have reasons why you have put off your estate plan. For some, according to Forbes, they put it off because they do not think estate planning is necessary at that point in their life. In other instances, they procrastinate out of superstition. They believe that if they prepare for the end of their life that something might happen to them right now.

Maybe you are superstitious too or perhaps you are just too busy. No matter the reason, there are a few stress-free options to help you start on your estate plan.

Manage your finances

If something were to happen to you, would your family be able to figure out what debts you owe? Would they know what assets you own? Try to compile all your financial information so that your loved ones can access it. Use a site or service to aggregate bills that you must pay, investment accounts, property and other benefits.

Compile your passwords

Estate planning has to include the names and passwords to your online accounts. You do not necessarily have to share your logins and passwords but you do have to organize them where your loved ones can find them. If you have a password manager, it can hold all your passwords for you.

Create an advanced directive

No one wants to think about a possible medical crisis, but it is still important that you have a plan just in case. If you cannot communicate, you need someone that you trust who can make the medical decisions for you.