There are parts of your estate plan that you decided on long before you thought about creating a formal document. On the other hand, other assets and beneficiaries may present a more challenging question.
While there may be assets you overlook as you are working on your estate plan, there are other aspects of an enforceable will that are often overlooked.
These are some of the most common estate planning steps that get forgotten.
It may seem obvious that your estate planning documents need your signature, but it can easily get overlooked. Often, someone will get legal support for their estate plan, take it home to review it and forget to sign it.
Although you do not need to have your will notarized in Maryland, you do need to sign it in the presence of witnesses. For some, it can be challenging to coordinate witnesses; in other cases, the signature, in general, gets overlooked. Before you check your estate plan off of your to-do list, it is essential to make sure that you have the appropriate signatures.
More than just assets
When you think about your estate plan, you may consider only what you want to happen with your assets after you pass away. However, your plan should include your other wishes, such as:
- Planning your funeral
- Dealing with incapacity
- Naming an executor
Even if you do not have specific preferences, making these choices ahead of time can make these situations simpler for your family. Rather than trying to imagine what you would want, they know they can fulfill your wishes.
Creating a comprehensive estate plan can be a complex endeavor. You should talk to a skilled professional about your goals for your will and other documents.