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Family 'Matters' | Estate Planning: Organization is Essential

Family 'Matters' | Estate Planning: Organization is Essential

August 17, 2023

Estate planning is the process of making decisions about your assets and how they will be distributed after your death. It is an essential process for everyone, regardless of age or financial status. One of the most important aspects of estate planning is organization.

There are several reasons why organization is essential. One, it helps ensure that your wishes are carried out as instructed. With organization, it could be easier for your loved ones to find the necessary documents and understand your wishes, leading to clarity, not conflict, which is the last thing you want after you are gone.

Second, organization can help to save time and money. If your estate plan is in order, it will be easier for your loved ones to locate the necessary documents and file the required paperwork, saving them a lot of time and hassle and saving them money on legal fees.

Third, organization can help to avoid probate court. Probate is the legal process of distributing your assets after your death. Suppose your family finds your estate plan is out of order. In that case, it may be necessary to go through probate court, which is time-consuming and expensive. Organizing your estate can help your family avoid probate court, and this "matters."

There are a few things you can do to organize your estate plan. First, create a binder or folder to store all of your estate planning documents. This binder should include your will, trust, power of attorney, living will, and other relevant documents. You should also keep a list of your assets and their locations in the binder.

Second, label all of your estate planning documents clearly, making it easy for your loved ones to find the documents they need. You should also keep a copy of your estate plan in a safe place, such as a safe deposit box.

Third, update your estate plan regularly. Your estate plan should reflect your current wishes and circumstances. If you get married, divorced, have children, or change your financial situation, you should update your estate plan accordingly.

Doing the above can help ensure that your estate plan is organized and that your wishes will be carried out as instructed, giving your family peace of mind and helping them to avoid confusion and conflict after you are gone. Showing your family that they matter.

Contact the DFG team today to schedule a complimentary consultation, and you will receive the "In Case of Emergency Guidebook" and supporting information; copies are limited, so please call today. Taking these steps today can help ensure your family is prepared to handle an emergency or your passing in the future. The DFG team wants to help.

Please help others by sharing this information.

David S. Dixon, CFP®

Jacob S. Bierstedt, CFP®, ChFC

This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.