As the initial sadness that often accompanies the death of a loved one begins to abate, new concerns may rise up amongst you and others impacted by their loss. One of them may be the distribution of their estate. Such concerns can easily be resolved provided that your family member or friend left behind a trust or will detailing their wishes, yet what if they did not? In such a case, it is said that they died "intestate." The state has established guidelines that specifically deal with intestate succession.
It is possible to leave a legacy gift to a non-profit without upsetting your beneficiaries, but it could require careful planning. These gifts can come from any number of assets or programs. Each has its own benefits and drawbacks.
Your estate plan should not be static because your life is always changing. You may have put great care into the initial formation of your plan, but if you have not recently reviewed it, your plan is probably outdated.
There are many factors to consider when creating an estate plan and organizing those factors may seem daunting. You may feel stressed when faced with the task of gathering your information and getting your wishes in a legal document that will carry on after you pass. When meeting with an estate planner, there are some essential items you should have ready in order to simplify the process.