Monday, October 17, 2022

Things to Do Before You Die

estate planning attorneys Ann Arbor

You may already know the importance of funding a trust as a part of preparing for your death. It’s also important to know other things you should be preparing for before you die.

These things include:

  1. Inventory: there’s more to estate planning than writing a will or trust. You should create a list of your assets to make it easier on your family. An estate planning attorney can help you prepare a spreadsheet listing your assets and placing it in your estate planning binder.
  2. Retirement/Life Insurance/Annuities: beneficiary designations of your retirement, life insurance and annuities take precedent over your trust. It’s important to coordinate beneficiary designations with your overall estate plan.
  3. Bank Account - you can designate a beneficiary for your bank accounts through a “payable on death” (“POD”) designation. Again, it’s important to coordinate these POD designations with your overall estate plan. 

Find out the other things you should be preparing for before you die here.

Get Started Today: Schedule Your Consultation!

If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.

No comments:

Post a Comment