Financial StatementsAny financial statements from your investments and bank accounts should be brought with you to plan your estate. These documents can help show where your financial assets are located. It's also a good idea to have an idea of who you intend to take over ownership of these financial accounts in mind.
List of Assets & LiabilitiesLike your financial statements, assets and liability information should be brought to the meeting, as well. You can also decide who will take over these responsibilities upon your passing. This list can be helpful when dividing up assets and liabilities to pass on.
Life Insurance PoliciesAs you are planning your estate, any life insurance policy information is helpful. Bring your policies along with you in order to accurately assign someone to take ownership.
Who You Intend to Leave Estate WithUpdated addresses and other contact information for the individual(s) you intend to leave your estate is needed. This can make the transfer of your assets much easier after you pass. The exact name and addresses for individuals or institutions that you plan to name in your will are necessary.
Inheritance DisbursementFor beneficiaries who are minors or young adults, it can be helpful to line out the distribution of the trust. This can reduce the chance of a younger heir getting carried away with an excess of money or assets. You can set up your estate to pay out in smaller amounts over time versus a large lump sum or you can put off the disbursement until your child has reached a more mature age of your choosing.
No matter what your age, it's important to have an estate plan in place. This document can help show exactly who you intend to take over ownership of each of your assets. It's a nice gesture for your friends and family to have this documentation in place before you pass. Here at Gibbons Law Firm, we can help handle all of your needs for an estate plan. Contact our law office at the Lake of the Ozarks to schedule your consultation today!
Remember, your initial consultation with Gibbons Law Firm is always free.
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Lake Ozark, MO 65049
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