Adversity, particularly during a pandemic, is unfortunately commonplace in life. Hence, taking care of your family in the unfortunate event something unexpected happens to you must be translated in a carefully, well-laid out strategy. To give you peace of mind as you and your loved ones navigate the unpredictable circumstances of life, we highlight three highly-effective habits to crafting a suitable estate plan.
Be Proactive. Waiting until one reaches old age or battling a life-threatening illness to create a meaningful plan is never a smart idea. The best plans are often created in the beginnings of adulthood and tweaked every few years or so, or following a major life event. Congruently, a prudent planner habitually considers the goals one wishes to achieve, their legacy, and the necessary steps to achieve both.
Start with the End in Mind. Cementing objectives is crucial to piecing together a successful estate planning process. If one of your objectives is to leave certain assets to your children, figure out how much wealth should be sliced between the offspring. This decision should amplify the anticipated needs of each loved one.
Set Your Priorities. Before sealing the deal on each decision you make towards the distribution of your estate, visualize the impact of your choices on surviving dear ones. A comprehensive plan reaches beyond simply preparing a trust or will. It is carefully compiled by a purpose statement unearthing your hopes through careful communication. This can be done through a well-written letter to your family or executor, a videotaped message, or any other means of communication appropriate for your purposes.
Colonial Surety Company helps you meet court requirements with ease. We offer a direct and digital way to obtain estate bonds to help you seal your estate planning process. The steps to secure your bond couldn’t be simpler—get your quote online, fill in your information, and enter your payment method. It’s that easy! Learn More