Estate planning involves identifying in advance who you want to give your belongings to when something happens to you. A few things to do when planning your estate are:
A. Name beneficiaries or guardians for beneficiaries who are minors.
B. Provide specific instructions about your medical care, valuables, and wealth distribution.
C. Add life insurance to cover burial, funeral, and your family’s expenses after your death.
D. Look for legal ways to reduce estate taxes and unnecessary legal fees.
E. Regularly update your estate planning records and beneficiaries.