Poughkeepsiejournal.com published an article by Bernard A. Krooks entitled, "Proper Estate Planning More Than Just Documents" (Feb 2, 2017). Provided below is a brief summary of the article published at Poughkeepsiejournal.com:
Proper Estate Planning More Than Just Documents
Estate planning is not something we look forward to doing. It forces us to think about things that are unpleasant, such as who will make decisions for me if I cannot make them myself and who do I want to inherit my property when I die. Thus, there is the tendency for some to procrastinate when it comes to estate planning.
A critical part of estate planning is ensuring that all beneficiary designations, joint accounts, in trust for accounts and related items have been taken into account to ensure that your wishes are carried out on your death. Moreover, if you have created a trust as part of your estate plan, you need to make sure the appropriate assets have been re-titled into the name of the trust. While these may seem like simple concepts, I cannot tell you how often we hear stories of people who neglected to do the follow-up work necessary to complete their estate plan. To accomplish this in the most efficient way, we suggest you work with your estate planning team, including your attorney, accountant, trustee and financial and insurance advisor.
To continue more in depth on this issue, please continue to read the full article “"Proper Estate Planning More Than Just Documents" from poughkeepsiejournal.com.