7 Steps You Should be Taking in Order to Draft a Full-Proof Estate Plan

We understand that estate planning is something many want to avoid thinking about. After all, who wants to start planning the process of figuring out who gets what after they pass away? However, postponing the process just because you’re not sure of how to get started is not a good excuse. Follow our tips below to jumpstart the process!

If you’re in need of estate planning lawyers in McAllen, then contact Barrera, Sanchez & Associates, P.C. today!

Set a Date

Life always seems to get in the way of important things. Drafting a will can be one of them. It’s one of those, “I’ll eventually get to it”, types of things. Remember, though, life can definitely get in the way when it comes to getting sick, suffering an accident or even passing away. The point is, be prepared for the unexpected by setting a date for when seemingly unimportant things need to be done.

Get Educated

We have a variety of services to help your estate planning needs and are always looking to educate and talk to clients. So, you’ve heard about estate planning and want to know more? Give us a call and we’ll explain the benefits of having legal counsel to help with your situation in detail. You can also do some research online since there are countless sources of information on the Internet about estate planning at your disposal.

Get Organized

Start by creating a list of all of your debts, assets and their values. Gather deeds and statements so our attorneys can look at them. Other things to include are information regarding your:

  • Home and other real estate properties
  • Vehicles (Cars, trucks, boats, RVs, motorcycles, etc.)
  • Bank accounts
  • Certificates of deposit (CDs)
  • Bonds
  • Mutual funds
  • Investments
  • Retirement accounts
  • Jewelry
  • Life insurance policies
  • IRAs

Anything and everything that has your name attached to it, be sure to include so our attorneys can better assess their worth.

Make a List of Possible Inheritors

Make a list of all people who may inherit your belongings. This can include your spouse, life partner, children, grandchildren, nephews, etc. Be sure to include their full legal names, dates of birth, residences and your relation to them. You can also include religious, educational and charitable organizations.

Distributing Your Belongings

Start thinking about how and when you want for people listed in your will to inherit your belongings. This can be a tricky process, especially when children are involved. You may want to leave a certain amount for one and a different amount for another. Also, if you have a partner, you may want him/her taken care of for the rest of their life. While some inherit money or belongings right away, others do so in installments.

Medical Decisions

If you fall ill, someone should be listed to make healthcare-related decisions for you when you can’t do so yourself. With an estate plan, you can leave behind specific instructions about your care and who gets to make the hardest decisions for you.

Naming an Executor or Trustee

An executor (for those who have a will) and a trustee (for those who have a trust) can help with the probate process. The person you name should be someone you trust and will honor your wishes. If you can’t name anyone with these qualities, then consider our attorneys to step in on your behalf.

Start Planning with Us!

If you’re looking to avoid postponing drafting your will, then get started with our help! Our lawyers in McAllen are fully capable and knowledgeable of probate law and want nothing more than to give you peace of mind for your needs. Contact us today to get started.

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