A majority of women do not have an estate plan. Yet, 95% of women will be their family’s primary financial and decision-maker at some point in their lives. Of the women who do not have an estate plan, almost all of them have experienced a life change in the last 5 years that would call for the creation or renewal of their estate plan. If this sounds like you, here are a few challenges you may face as you work towards building your estate plan.

Not Knowing What to Prepare

With so few women taking an active role in the estate planning process, many are unaware of what documents are needed. As a result, many women approach this process with fear and apprehension or even put it off because they’re afraid the process will be overwhelming. With a trusted estate planning attorney at your side, this journey doesn’t have to be daunting. Here’s a list of important documents you’ll want to have ready when meeting with your estate planning attorney:

• Life insurance policies 
• Annuities 
• Pension or retirement accounts 
• Bank accounts 
• Divorce records 
• Birth and adoption certificates 
• Real estate deeds 
• Stocks, bonds and mutual funds

Uncertain What Questions To Ask 

In addition to not knowing what documents to have, some women aren’t sure what questions to ask. Maybe you’re wondering how to make arrangements for your digital assets but don’t know where to begin. Maybe you aren’t sure how to distribute your personal belongings after your passing. Some women often feel their current circumstances aren’t worth making arrangements for, therefore, they fail to plan or research available options. You can rest assured in knowing that everyone needs an estate plan, regardless of age or income level. 

Here are a few questions to ask your estate planning attorney:

• How long does this process take?
• Do I need a last Will and Testament? Why?
• Do I need a revocable living trust?
• Does my Will need to be updated?
• How do I know who to choose as my power of attorney?
• What is a Health Care Proxy and do I need one?
• How do I choose a trustee?
• What is probate?

Estate Planning with Lefkoff-Duncan

If you’re ready to take control of your family’s financial future, Lefkoff-Duncan is here to help. Our experienced team will assist you in all of your estate planning endeavors so that you’ll never again need to wonder if you’ve done enough to take care of the ones you love. Give us a call at your convenience at 404-262-2000 to get started.