Obviously, in a perfect world, we would all have estate plans in place that dealt with everything and would run smoothly when the time came. Since that is not the case, here are some tips to make yours a bit better:
- Determine who will manage your affairs if you become disabled, incapacitated, or pass away.
- Plan your estate if you enter a nursing home or receive significant long-term healthcare.
- Protect children from your prior marriage in case you pass away before your present spouse.
- Protect assets inherited by your heirs from lawsuits, divorces, and other claims.
- Provide for children or grandchildren with special needs.
- Address the different needs of your children.
- Prevent challenges to your estate plan.
- Plan an estate plan for blended families to ensure all children are provided for.