Estate planning is not something you should procrastinate. It’s better to get started on it sooner, rather than later. If you’re not sure where to get started, Mestayer Law Firm is here to help. We have compiled a few steps on how you can get started with your estate planning! Keep reading as we dive deeper.
Give Yourself a Deadline
First things first, set a target date for yourself. It’s much easier to procrastinate something that doesn’t have a due date. So, make a plan to have it completed by your birthday or before the New Year begins so that you will actually get it done!
Before beginning your estate planning be sure to educate yourself about the basics of it. This will help you save money when working with an experienced attorney because you won’t waste as much time asking questions due to the research you have already done.
Create a spreadsheet that contains your assets with the current market value, any debts against them, the resulting net values and how they are titled. Gather all of the information you will need, like the deeds and statements, in order to give them to your attorney when they are needed. You should also include your home and all other real estates. It’s extremely important to be honest about everything you have (personal loans, credit cards, things you own, etc.) because your attorney can only use the information provided to plan with.
Create an Inheritance List
Go through and create a list of any individuals that you would like your inheritance to go to. This can be your spouse, kids, nieces, nephews, siblings, grandchildren, a life partner, friends, etc. Be sure to include their full name, date of birth, address and their relation to you. You can also include a donation to a charity of your choosing.
Think About the Details
Is there a specific way you want people to receive their inheritance? For instance, sometimes giving all of your children the same amount tends to bring resentment. One case may be a child who is very well off, while another is living off of a single teacher salary. Think about your spouse, will they have enough to pay the mortgage, will they have to work another job?
If you have any questions or are ready to start estate planning, contact the experienced team at Mestayer Law Firm today. Our team has the knowledge and experience needed to provide you with the information you need to get started and we will make sure the process goes smoothly.
Mestayer Law Firm provides civil litigation for clients throughout the Gulf Coast area including Pascagoula, Biloxi, and Gulfport. If you are making future plans for your estate, then contact us today and let us help take care of every detail of your finances. Call us today at 228-762-1193 or visit www.pascagoulalaw.com. We are your legal experts! You can also visit our office located at 2128 Ingalls Ave. in Pascagoula, Mississippi. We look forward to talking with you!
No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.
This article does not create an attorney-client relationship. I am licensed to practice law in Mississippi and have based the information presented on US laws. This article is legal information and is for entertainment and informational purposes only and should not be seen as legal advice. You should consult with an attorney before you rely on this information. Any information provided in this blog is accurate and true to the best of my knowledge, but that there may be omissions, errors, or mistakes.