Give Yourself an Easier Time of Making a Will

This article from HG.org shares the first step in estate planning, which is the act of collecting information.

Beginning the estate planning process can be a task that seems overwhelming. If you’re having trouble getting started, one of the easiest ways to begin is to collect some simple information you will need to write a will.

The act of collecting this information will often lead to thinking about inheritance decisions and other questions that are vital to the estate planning process. Additionally, you will need to have this information at hand when you actually sit down to make your plan.

Here are the types of information you will need:

 Your Property

A major part of estate planning is dealing with all your possessions and how you want to pass those possessions on after you die. You need to account for everything you own, including real estate, personal property and investments, as well as anything you still owe money on. Both debts and assets need to be accounted for prior to creating a will or other estate planning documents.

 

Your Representatives

Another key part of estate planning is choosing people whom you trust to manage your affairs should the need arise. You will need to select someone to represent your estate after you die, as well as one or more people to represent your interests should you become unconscious or medically incapacitated. You can choose both individuals and professional organizations, such as banks or trust companies, but you should think about who you would want to serve as your representative in emergency situations.

Source:http://www.hg.org/article.asp?id=29268