Estate Planning 101: Keys to Success

Whether you are just starting your planning journey, or taking another look at your existing estate plan, be sure the following items—in addition to a will—are included to make things easier for you and your loved ones.

Be Sure You Have:

  1. A high-level overview that lays out the basics of your finances and plan. Include:
    • Where to find your will and other documents, and who the key people are—your powers of attorney agents, executors or personal representatives.
    • Financial assets (where accounts are held and who owns them).
    • Insurance coverage (property/casualty, health and life policies with policy numbers).
    • Property and vehicle information.
    • Regular household bills that you pay.
  2. A detailed description of your finances (account numbers, contacts at financial institutions, etc.). 
  3. A personal property memorandum that is often referenced by your will and states how you want property distributed and/or sold. This allows you to assign sentimental or valuable assets to specific people without having to change your will if you change your mind. 
  4. Your digital estate inventory, which includes online account details.
  5. Advance directives, powers of attorney and other end-of-life planning tools to communicate your basic wishes. Add personal messages and detailed plans for your funeral, memorial and other specifics. 

No Estate Plan? Start Here

Estate planning is a highly personal process of deciding how your assets will be distributed after you are gone. Consider these questions first, then meet with your estate planning attorney to begin putting your wishes into place.

  • Who will receive your home? Car? Stocks? Jewelry?
  • Who will take care of your children if they are not yet of legal age?
  • Are there charitable organizations you would like to benefit from your estate?

Explore Your Legacy at TPWF

Wherever you are in the process, your estate plan is a powerful way to show your love. Please contact Phil Lamb at 214.720.1478 or to learn more about including TPWF in your future plans.