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  • Nicole J. Zuvich

How can you make an efficient estate plan?

Updated: Sep 27

Estate planning is an excellent way to provide instructions for everything from your desires for medical care to how you want your assets distributed. Thoughtful strategizing can optimize your plan.

Having an efficient method may prevent confusion and discord for your surviving family members, as well as facilitate the successful closure of your estate when the time comes.

Align your goals

An effective estate plan will take into consideration your goals for the future. You may think about topics including the following:

  1. How do you wish to invest your assets?

  2. How do you want to pay off outstanding debts?

  3. Who do you want to assist you as you age?

  4. What do you want your beneficiaries to have?

  5. Are there charities you want to contribute to?

  6. What is the legacy you wish for others to remember you by?

Thinking about your desires and your future goals and then aligning your estate plan with these endeavors can streamline the focus of your plan. According to U.S. News, you may also consider gifting some of your money before you pass away depending on the needs of those you plan to share your assets with.

Work with an attorney

Another excellent way to optimize your plan is to involve an attorney. Legal professionals have the knowledge to help you create a well-written plan that meets your needs. Equally as important as having a plan is keeping it updated throughout your life. An attorney can help you identify when you need to update or modify your plan to keep it functional. For example, significant life events such as divorce, remarriage or inheriting a substantial amount of cash may all influence your plan.

Recognizing that your estate plan is a constant process and not one that concludes when you finish writing it can help you keep it as efficient as ever.

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