The 8 Estate Planning steps discussed in the attached Moneywatch article should be a part of every Olympia household’s financial plan. Your attorneys at Budsberg Law Group can help you structure your estate plan in an effective manner, starting with Step 1, your will. Our comments below are enclosed in brackets.
As noted in the article, the steps in order are:
1- Draft a well
2- Ask an attorney about trusts
[that should be Budsberg Law Group of course for folks in the Olympia and southwest Washington area]
3 – Assign a power of attorney
4 – Set up an advance directive
5 – Be sure you have enough life insurance.
[While Budsberg law does not provide life insurance, we can help you assess your needs for life insurance and determine a good place to find the appropriate coverage for your situation]
6 – Update your beneficiaries
[One point made in the article is that your beneficiaries as listed in your 401(k) and insurance policies, among other things, actually trumps your will! You need to be sure that all of your beneficiary designations agree with each other to prevent problems and conflicts later. Budsberg Law Group can assist you in making sure that all of these important bases are covered in your Estate Plan]
7 – Organize your paperwork
[Again, a well structured plan will allow those who follow up on your will too have an easier time than if they have to search high and low for information you have referenced in your ail, trust or directives. Ease the stress on your loved ones after your passing by having everything properly laid out and in a place that they can find when you are not around to ask.
8 – Keep it in the right plan
[Related to the above, be sure you have a safe deposit box – and that your loved ones know where it is and how to access it! Additionally, you may want to keep your items digitally by scanning them in or using a website like VitalSafe.com]
Of course, when working with Brian and Ben of Budsberg Law Group, you can be confident that you’re Estate Plan will be well organized, properly configured and all the tough questions will be answered. Give us a call today to schedule your review for your Estate Plan today in our conveniently located Olympia offices.