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Estate planning requires a few basic steps

It is often easy for people in Texas to put off estate planning because they prefer not to discuss topics related to death. In addition, the idea of estate planning may naturally be overwhelming since it can be complex. A few basic steps may help people to approach estate planning more confidently.

First, it is essential to get organized. This includes creating a record of all of one's legal documents and accounts so that family members can locate these in the event of one's death. This record may include documents on life and disability insurance, auto and home insurance and estate documents. Other essential documents include family and professional contracts.

It is also important to not only create a will with proper legal guidance but to also discuss the contents of the will with loved ones. For children in college and high school, it is important to specifically mention which family members have been to chosen to take on certain roles and responsibilities in the event of one's death, such as uncles, aunts or grandparents. As children become adults, they can even help their parents navigate the estate planning process.

Being proactive is important when it comes to estate planning in Texas. Otherwise, people may die without having estate plans in place, thus causing surviving family members to feel confused and overwhelmed about what should happen to the assets that have been left behind. An applied knowledge of the law can help people to posthumously control what happens to their assets when they die and give their loved ones greater peace of mind.

Source: buffalonews.com, "Three keys to estate planning", Tom Bentley and Courtney Weber, July 27, 2015

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