Estate Planning Lawyer in Lake St. Louis, MO
At Legacy Law Center, an estate planning lawyer in Lake St. Louis, MO knows that many people believe they don’t need an estate plan because they aren’t “rich” enough. But in actuality, this couldn’t be farther from the truth. Estate planning isn’t only reserved for people with an exorbitant amount of money. The goal of having an estate plan is to reduce the stress and burden on your heirs or beneficiaries. The drive behind an estate plan is to prepare your legacy so that it is distributed to those you care about the most.
If you are finally ready to get started on your estate plan, here are four tips to get you going:
Start with Your Assets
If you aren’t sure where to begin, start with writing a list of your assets. These can be both tangible and non-physical items such as your car, property, bank accounts, 401k, life insurance, stocks, deeds, and more. Be sure to add sentimental items and collections to your list, like jewelry and art. Keep in mind that this step may take longer than you think, but will set the foundation for the rest of your estate plan.
Choose a Personal Representative Wisely
After you pass away, your personal representative, also called an executor, will take on the responsibility of handling your estate affairs. This may be a great or terrible thing, depending on who you pick. This is why a Salt Lake St. Louis, MO estate planning lawyer advises choosing your personal representative wisely, and that they should be someone who has your best interest in mind always.
Consequences of No Estate Plan
The task of writing an estate plan is not a fun one, as it can make us come face-to-face with our own mortality. While this may not feel so great, it’s such an important step in protecting your legacy. If you do not write an estate plan, then what can happen is the courts will decide who and what is given away of your assets based on state law. This means that your loved ones are not guaranteed a fair share of what you have built because there was no legally-binding documentation expressing your wishes.
Call Legacy Law Center Today
Whether you need to start writing an estate plan or make changes to one you already have, we can help. Consider contacting an estate planning lawyer in Lake St. Louis, Missouri from Legacy Law Center today for prompt and dependable assistance.