Getting Started with Estate Planning
Beginning your estate planning can be an overwhelming experience, as it is quite the undertaking when it comes to properly protecting your assets and making sure you’ve covered all of your bases.
To help you get started, the asset protection planning professionals at Crane Law Group have compiled a list of the most important things to line up when beginning this process.
In order to understand how to start estate planning, it’s important to first understand what it is.
So What is Estate Planning?
Estate planning is the process of dividing up your assets among your beneficiaries and choosing who will take over the handling of all these responsibilities in the event of your death or incapacitation. Ensuring that you minimize estate tax, income tax, and other taxes is one of the main goals of estate planning.
Take a look at the first five steps you should take to get started with your estate planning. Remember, these points are just a starting point and when working with a professional, they can help you navigate these steps and everything involved with them.
Steps to Starting the Estate Planning Process
Step 1. Take an inventory of your personal belongings
Step 2. Establish Your Directives
Step 3. Go Over Who Your Beneficiaries Are
Step 4. Understand and Establish What Your Family’s Needs Are
Step 5. Seek Out Professional Help
Each of these steps are equally important. What’s also important to understand is that these are not the only steps you should be taking, however, they’re a great place to start. By breaking things down and simplifying them, you can at least take a step in the right direction toward sensible and solid estate planning.
Where to Find Help With Estate Planning
Finding the best professionals in estate planning is easy when you choose Crane Law Group. We’ll help you create a comprehensive plan that will ensure that your family will be able to handle things in a smooth and headache free manner, allowing them to focus on what’s most important, celebrating you.
To get started with your estate planning, give us a call and we’ll set up a consultation to discuss your estate plans and your unique needs.
Did You Know We Also Asset Protection Planning?
Did you know that estate planning and asset protection planning aren’t the same thing? It’s true, and the differences, while aren’t vast, are extremely important when it comes to proper planning and knowing what you need to prepare for both.
Stay tuned for our next blog where we’ll go into more specifics about the top five steps to take with estate planning. We’ll also take time to talk about, as well as explain the differences between estate planning and asset protection planning. As they say, knowledge is power, and the more you know about these things, the better you can prepare for these things, and the more effective your estate planning and asset protection planning will be.