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Funding Your Estate Plan

In order for an Estate Plan to work, you have to review what is in your estate. What assets do you have? This would include your bank accounts, investments, retirement plans, pensions, home, vehicles, and any other physical or financial properties that you own and would like protected in your plan. About 33% of Americans claim they do not have enough assets to leave to loved ones[1], so they do have a plan in place for the assets they do have. All of your assets are important to include in your plan, not matter how small or large.

Gathering information on what assets you own helps you stay organized and makes the future much easier for both your Power of Attorney, if they were to take over for you, and for your loved ones. Relevant information includes where your assets are located, such as the banks you have accounts with. It would also include usernames and passwords for all your online accounts. Gathering documents is a great way to start, like bank statements, vehicle titles, or property deeds. Once you collected your asset information, you can review the beneficiaries that are in place, and if you wish to change them. Estate planning professionals can help you keep your assets organized and help you change beneficiaries if necessary. If you would like help protecting your assets, contact our office for a complimentary initial consultation at (248) 409-0265.