6 Step Process for Creating an Estate Plan

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How difficult is the process for creating an estate plan? The answer, as you would imagine is that it depends. If your estate is average size and uncomplicated the process should be simple and straight forward. Regardless of how straight forward, most people will need small team of advisors to help.

There is usually one person who will take the lead, gather the necessary information and assemble the other advisors as necessary. Those advisors usually include a tax advisor, an attorney, and an insurance agent.
The process for creating the plan will look something like this.

1. The lead person will gather the facts regarding you, your heirs and your estate.
2. The threats to the estate are indentified.
3. An Estate plan is designed to neutralize the threats is established by the advisors.
4. The estate plan is tested by the advisors against the potential threats.
5. Plan is executed by with the appropriate legal documents.
6. Future periodic reviews are scheduled.

The estate planning process does take some thought and effort, but the rewards for planning are substantial.
If you would like for me to take the lead in creating an estate plan or be on your team of advisors call me at 256-760-0099 or email me at Claiborne.mize@gmail.com.

Other articles that may be of interest:

What Happens to My Estate If I Die Without a Will or Trust?
The 5 Advantages of a Planned Estate
Top 8 Enemies that Threaten Your Estate

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