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Estate planning steps for success

Although the estate planning process may differ from one state to the next, those who take on the process share the same goals. They are hoping to create a plan that ensures the appropriate distribution of their assets upon their death.

Many of our Texas readers, just the same as others, realize that they need to go through estate planning at some point in the near future. However, some shy away from this because they are unsure of what it entails.

There are many steps that can be taken along the way to ensure success. One of the most important things to do is consult with an estate planning attorney. This person can answer questions, provide advice and help avoid mistakes.

Another important step is to take a close look at each and every asset, including how much it is worth now and who is going to receive it upon your death. This can be a time consuming process, but a step that cannot be overlooked.

Finally, it is important to have defined goals. Everybody is in a unique situation, so no two people are going to make the exact same decisions while estate planning. Instead, they are going to base their choices on the goals they have set.

There is a lot that goes into estate planning, but taking the right steps along the way can help protect against mistakes. When the right details are taken into consideration, it is much easier to be sure that your estate is in good hands now and that this will continue upon your death.

Source: iBerkshires, "Five Steps to Help Create an Estate Plan" No author given, Mar. 31, 2014

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