When someone passes away, it’s often difficult for their loved ones to take on the responsibilities of their estate while also grieving the loss of someone close to them. To make that difficult time easier on your loved ones, it’s best to be prepared and have a well-planned estate.
This article highlights 5 key estate planning questions everyone should ask themselves when they begin this process.
- Why haven’t I created a will? If you have any assets you want to leave behind or want to specify who will raise your children if you should die, you should create a will.
- Do I have enough life insurance? Would your spouse be able to afford your mortgage and other bills if you unexpectedly passed away? Life insurance helps provide necessary financial protection for your family in the event of your death.
- What do I want to do with my home? Deciding now what to do with your home can ease things down the road with your survivors. Options on what you can do with it vary depending on whether you’ve paid it off or not.
- Will anyone know how to find my key documents? Create a designated space for these documents and make sure that someone knows where to find them.
- Who will care for your pets? Make sure your beloved pets are cared for after you pass by leaving instructions.
Want to learn more about starting the estate planning process? Contact us today!