Oftentimes, when people are planning for their end of life, they immediately think of all the legal forms that need to be in place to fulfill their wishes for those they leave behind. But, you cannot ask for legal advice and guidance until you know exactly what you have, and more importantly, what you want.
Before a lawyer is consulted, two lists need to be made. The first is a list of all the professionals that you deal with periodically and their contact information. Be sure to include medical professionals, accountants, financial advisors, investment advisors, lawyers, insurance representatives – any professional who could help your loved ones when you are no longer able. Then, sit down and make a list of all of your assets and liabilities. Provide detailed information – policy numbers, passwords, account numbers, etc. This list is imperative in helping your lawyer establish the documents that will distribute your wealth. Keep that list in a secured place and provide copies to all pertinent professionals.
These two lists – knowing what you have and the professionals who are there to help – are the critical starting point that will drive the direction of your end of life plan. All of this may seem overwhelming, but every journey starts with the first step. And remember, WealthEdge® is here to help, every step of the way.