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What should you think about for your estate plan?

| May 6, 2020 | Estate Planning |

Many Nebraska residents have put off estate planning for a long time, and they know they need to address this important task. However, for most people, the first step is the hardest. Where do you start and what should you be thinking about when it comes to your own specific estate plan?

A recent news article noted the importance of estate plans and emphasized that a comprehensive estate plan includes more than just a will. While a will or a trust is absolutely critical to attempt to ensure an orderly distribution of assets to beneficiaries, there are other documents that should probably be included in almost every estate plan.

For example, as the recent news article mentioned, an advanced medical directive can be a key part of any given estate plan. This document can provide details of what medical treatment you want – and what you don’t want – in the event that you suffer a serious medical issue that renders you incapacitated and unable to communicate your preferences. In a similar vein, a healthcare representative can also be appointed in such circumstances, to make the important decision in your stead.

A comprehensive estate plan will include options for more than just passing on assets and addressing debts. End-of-life considerations should probably rank just as high in importance as what will happen to your savings and assets when you are thinking about your estate plan. Each estate plan is unique, so our readers in Nebraska would likely benefit from getting more specific information about their own options for their family and financial situations.