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How do I get started with an Estate Plan?
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There are certain things that you should get squared away no matter what your circumstances. A will is chief among them. A will tells the world exactly how you want your assets distributed when you die. It's also the best place to name guardians for your children. The other choices are less obvious without professional assistance but no matter your net worth, it's important to have a basic estate plan in place. Such a plan ensures that your family and financial goals are met after you die.
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Taking inventory of your assets is a good place to start. Your assets include your investments, retirement savings, insurance policies, and real estate or business interests. These are the things that can either be used to bless your family and church or can be dwindled away by probate and taxes.
Determine who you want to inherit your assets. Also important is who do you want handling your financial affairs if you're ever incapacitated and making medical decisions for you if you become unable to make them for yourself?
Discussing your wishes and your plans together with your heirs may prevent disputes or confusion. Inheritance can be problematic if you are not clear about your intentions and take steps to avoid potential conflicts after you're gone.
Meet with your stewardship team to align the proper professional team to assist you with the final details for making your wishes legal and effective.
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