Elements Of A Stress-Free Estate Plan

Estate plans have to do with what’s going to happen in the future. Retirement, taking care of loved ones, avoiding taxes — things that will have to be dealt with some day, but not today.

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However, a story in Forbes says your estate plan can actually help you out right now — by eliminating stress and worry.

The article lists a number of key elements of any estate plan. Here are some:

  • Determine who you want to manage your affairs if you are incapacitated or pass away.
  • Make a plan for how you will manage if you need to go into a nursing home or need long-term health care.
  • Avoid probate at all costs.
  • Protect children from a prior marriage.
  • Protect assets inherited by your heirs from lawsuits, divorces and other claims.
  • Provide for children with special needs.

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