Estate Planning | Making a Difference One Family at a Time

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As we all know estate planning involves the execution of certain legally binding documents. You’re going to want to arrange for the transfer of assets to your loved ones in a smooth and efficient manner, and the best way to do this is going to vary on a case-by-case basis. Just how complex your financial plan will be is going to depend on the size and scope of your assets and the specific nature of your wishes.

If you want be comprehensively prepared you will also include an incapacity component that contains the selection of decision-makers who would be empowered to act in your behalf should you become incapacitated and unable to make your own sound choices.

All the above requires good communication with your estate planning attorney. It is also wise to recognize the fact that adjustments are probably going to be necessary as time goes on, so this solid communicative relationship should be perceived as an ongoing one from the outset.

But in addition to communicating your wishes with your estate planning lawyer, it is also a good idea to discuss pragmatic details with your family members. They are going to have to know where to locate important documents, keys, written instructions, etc. Since we are living in the digital age many people manage their banking and brokerage accounts online and with this in mind you may need to pass along usernames and passwords. Access to social network accounts is something to consider as well.

If you think about all the details that your family members will be faced with after you pass away and make sure that all of your bases are covered it will make the transition that much smoother. Since your lawyer has the appropriate experience it may be a good idea to discuss these practicalities with your estate planning attorney to make sure that you are not overlooking anything.

Jeffrey A. Nirenstein, Estate Planning Attorney
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