Whether you marry or enter into a domestic partnership, many couples also wed their finances together. However, couples may not spend enough time thinking about estate planning. It’s vital, especially if there are considerable assets involved, such as real estate or retirement accounts.
One of the first steps you’ll take in the estate planning process is an initial needs evaluation. Two key components of your evaluation should be an estate analysis, an in-depth review of your present arrangements, and a settlement cost analysis, which summarizes the costs of various distribution arrangements.
Estate planning is complex. While a simple will may adequately serve the needs of some people, you should meet with a qualified legal advisor to ensure your plan fulfills your desires.
Consider this checklist before your meeting:
- Communicating your final wishes
- Protecting your family from unforeseen circumstances
- Reducing your taxes
- Creating opportunities for charitable giving
Contact my office to begin your initial needs evaluation. We’ll guide you through the estate planning process.