Deciding what to include in an estate plan that works for you

Deciding what to include in an estate plan that works for you

On Behalf of | Aug 12, 2019 | Wills And Trusts |

Estate planning can be tricky when you take a step back and look at all of your options with no real idea of what to do or where to begin. At Dale M. Maas, Attorney at Law, we have been able to help many families in Louisiana with their efforts to create a customized plan that fits their needs and works with their lifestyle and end of life desires. 

No two estate plans are going to be identical. Your family situation and all of the fine details surrounding its creation and operation are going to impact which strategies you use to plan for your future. Ignoring those unique factors and making an estate plan that is general in nature, maybe better than having nothing at all, but not as effective as if you had spent the time to create something customized. In fact, you may end up losing some of the things that are important to you if you overlooked their destiny when you were creating your original estate plan. 

Breaking down your needs and identifying a route that is the most functional for your family requires you to assess several factors. Fidelity Investments suggests answering questions including the following:

  • What level of privacy do you want to have?
  • What makes your family unique (is it a blended family, do you have disabled dependents, etc.)
  • Do you have a large estate with lots of assets feeding into it?
  • Do you own a company? Have you implemented a succession plan?
  • Do you contribute any funds to retirement accounts?

Asking the right questions can help you to develop an estate plan that is going to best suit your needs and provide the most comfort and satisfaction to your surviving family members after your death. For more information about planning your estate, visit our web page.