It's important to know the answers to such questions, and to a plan and documents in place to make sure your wishes are executed if ever the worst should happen. August is National Make-a-Will Month. Here are a few tips to keep in mind as you get started:
- Consult a professional - Work with a trusted estate planning attorney who can guide you through the process. (*We can recommend one if you need someone in the CT River Valley area).
- Make sure you know who your beneficiaries are on your life insurance, annuities and other accounts, and change them if you want someone else. *ie. If you have been divorced and you haven't changed your beneficiary, your ex-spouse might inherit.
- Make sure you've specified your executors for your estate.
- Take an inventory of your assets - bank accounts, jewelry, personal items, heirlooms, properties, stocks, brokerage accounts, collections etc.
- Make a binder with all important documents and tell whomever you trust to handle your affairs in the event of accidents or tragedies, where to find it.
It's important to make sure we are set. Don't wait!