Make Estate Planning a Priority

Make Estate Planning a Priority - Part 3

2006-09-14

Back to Part 2 of Make Estate Planning a Priority

You also have to answer important questions that concern the beneficiaries of your properties. Here are some questions that you need to start answering in your mind:

Who shall administer your estate after your death?
Who shall be named guardian of your children?
Should your spouse be the titleholder of your assets?
Who shall receive your life insurance proceeds and your retirement remuneration?

All of your properties including the developments in property that you possess are your assets. In short, everything you own from furniture, to your house and car is included and known as your estate, valuable or invaluable. Your estate may also consist of money in your bank accounts, even stocks or bonds, and your life insurance or retirement benefits.

A qualified attorney should prepare all legal documentations with your consent. Real estate planning needs more than the sole skill of a lawyer for a polished will. Many other business representatives exist nowadays offering a complete service to make your real estate plan for you. You can even find a good one online and they may be involved in the estate planning process, including certified public accountants, personnel managers, pension consultants, life insurance salespersons and bank officers. These professionals often participate in the estate planning process with their respective areas of expertise.

The cost of estate planning shall depend on your individual condition and situation including the type of estate planning which shall be employed. The cost usually includes the attorney’s charges for discussing your personal estate plan and for the preparation of your will, trusts agreement or other legal documentation you may need and you may request for.

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