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SEXTON BAILEY ATTORNEYS, PA an Arkansas Estate Planning & Trust Information Center

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Home / Estate Planning / How Does the Estate Planning Process Work? (part 2 of 2)

How Does the Estate Planning Process Work? (part 2 of 2)

September 5, 2011 by Audra Bailey Wilcox Leave a Comment

The entire estate planning process takes much personal thought.  Your personal input helps your attorney to create the best plan for you and your family’s needs.  We’ve outlined some steps in the planning process so that you’re better prepared.  Take a look at the information below to learn more.  If you have any questions, or if you’d like to discuss your estate planning, meet with a qualified estate planning attorney.

 

  • Begin planning your estate

 

In order to start the basic aspects of your planning, you and your attorney will discuss many things. You will take a look at your assets and debts, decide how you wish to give your assets away to your chosen beneficiaries, and choose trusted helpers who will help you with your affairs during any time of need.

 

It’s important to carefully consider the decisions that you will make so that your plan fits in with your preferences and goals. If you don’t understand a decision, make sure that you have your attorney clarify.

 

  • Discuss and implement advanced planning techniques

 

Your attorney will help you understand some of the advanced planning techniques that are available. This includes planning for estate taxes, asset protection, special needs planning, and disability planning. Your attorney will help you create a plan that allows you to always be in control.

 

  • Update your planning

 

Once you create a plan, it’s not the last time you will do planning.  Throughout your lifetime, you and your estate planning attorney will meet to review and make updates to your plan. This will ensure that your plan always meets your current needs and is effective under current law.  Be sure to update your estate plan every three to five years.

 

If you have any questions about the estate planning process, or if you’d like to start your estate planning endeavors, consult with a qualified estate planning attorney.

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Audra Bailey Wilcox
Audra Bailey Wilcox
Attorney at Sexton, Bailey Attorneys, PA
Audra Bailey Wilcox
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