An estate planning journal is basically a collection of information on your assets which you collate over time. Should you have one? Well, it’s a pretty good idea if you are considering an estate plan when you want to document everything you can about your assets and finances.
A journal for estate planning will be handy when you are ready to sit down with an attorney or preparing an estate plan yourself because you will take the guess work out of the equation. One of the saddest things you’d ever see is watching close family and friends bickering over what they claim is there’s when you pass on and by leaving nothing out of your estate planning, you will eliminate any doubts.
Estate Planning Forms
Estate planning forms are numerous and it’s important to figure out which one you actually need for your purposes. Most people will just prepare for a simple estate plan and that’s enough but if you have accumulated wealth to any great extent and in different areas whether it be cash, material wealth or anything of value you want to pass onto the appropriate people then it may mean you would be better off with an estate planning package.
Forms for estate planning purposes include a basic will, living wills either with a directive to physicians or designating responsibility to a surrogate, last will & testament, probate, estate tax and power of attorney forms. For more information on these, click here.
Estate Planning Books
Books about estate planning are a great way to get informed about your legal rights and responsibilities. One thing we encourage people to do is to at least have a basic estate plan in place to get started. But also important is to know the ins and outs about how this process works.
There are some great estate planning books available for less than $20 on Amazon and one we highly recommend is Estate Planning For Dummies.
It’s ideal for people with limited knowledge on the topic or for those who don’t even have a basic plan in place. You will learn the fundamentals which is really just about all you need to learn however, it also guides you through the process in easy to understand fashion.
It is particularly valuable in the area of estate tax and this is vitally important. If there is one area of this topic you should clearly understand are your tax rights before and after death.
Start Your Estate Plan Today
You don’t want to see your family fight over your assets when you’re gone so whether it’s an estate planning diary, journal of taxation or anything related to your worth just make sure to have an account of what it is you have that you plan to pass on to your loved ones.
It sure will settle any ugly arguments which could erupt if you don’t.