The initial step in estate planning begins with an inventory of your assets. Financial investments, real estate, cars, boats, collections, life insurance, business assets and other personal property should all be included. The titling of the accounts and beneficiary designations should be considered as part of this review. As part of our planning, we help you gather this information and point out any potential red flags that we see.
Next, outline your goals and any concerns that you have regarding your heirs and their situation. Do you have minor children? Special needs beneficiaries? Spendthrifts or individuals with substance abuse issues? Creditor issues? Or perhaps you are part of a blended family, with children from previous marriages? Each of these circumstances can be addressed with the appropriate estate planning so that protections are put in place.