If you are going to start estate planning soon, it's important to note a few things before writing a living trust. In our previous blog post, we talked about what trusts are and why you might use them versus a will. Today, we will talk about the most important things to do before writing the trust.
Things to Consider Before Creating a Living Trust | Estate Lawyers in Cary NC
The first, most important step is to make sure you list out each and every item you on. This will include all assets. Things that are tangible, and those that are intangible, as well. Remember to include your vehicles, jewelry, homes, furniture, bonds, life insurance policies, documents more. Our estate lawyers in Cary NC can help you write this list up. It's important to work with the lawyer during this time to make sure you have a clear idea of what is in your estate.
Once you have a list ready, take a look at it. Consider here you might like to have it distributed to once you've passed. Write another list including those you would consider to be your beneficiaries.
Next, make sure you have access to titles of vehicles, deed to property, stock certificates, life insurance policies and more. These should be handed over to your lawyer during the time that you are creating a living trust. These documents are important for the law you're to have so that they can go ahead and transfer everything into the trust. This is how it will be funded.
To learn more about things to consider before you create a living trust, visit back with our next blog post. We will have more information there.
Are you considering starting your estate plan? If so congratulations. Estate planning is an important part of life but some people choose to ignore. However, at some point we will all pass on and our belongings will need to be distributed to our loved ones. Contact our estate lawyers in Cary NC to learn how to properly do this.
Remember, estate planning is important. It’s a way to ensure your loved ones are cared for after you’ve passed. It’s also a way to distribute your belongings to specific loved ones as well. It’s important that one not pass without this document. Doing so can result in a court case that will leave your loved ones stuck in probate court. This could be not only time consuming but expensive as well.
Regardless of whether you're married, single, wealthy, childless or a parent, it's important for all adults to have an estate plan and the proper documents in place at the beginning of each year. If you're ready to begin planning your estate contact our estate lawyers in Cary NC, today.