Most people can create estate planning on their own as long as they have reliable and clear instructions to follow in doing the proper estate planning. The Hive Law offers you tips on how to make your estate plan without paying and advise you on how to make the best estate plan. The Hive Law helps you save money you would have used in visiting your attorney and also helps you save time. The first thing you do when making an estate plan is making a will, a will states who is to take over your estate in case something does happen to you and who will take care of your children if they are too young. If you have a living trust, the family members you leave behind will not have to suffer any more than they have by losing you, and you will have saved them from going through the probate law which is both times consuming and expensive. Your healthcare directives include a health care declaration and a power of attorney, this gives anyone you choose the power to make decisions on your behalf when you can’t, it is important to include this as you make your estate plan because it ensures that your health wishes are taken care of. Life insurance covers all your debts in-case you do pass before paying them off hence making it important to include life insurance in your estate plan. Another tip to take into consideration when doing your estate plan on your own is filing beneficially forms that will help your funds to skip the probate process in-case you do pass away and get paid to your beneficiary immediately. The Hive Law helps you understand estate taxes, which is very important as you make your estate plan; this helps you know all your tax rights and where you should be exempted. When making an estate plan, you should include a plan for your business after you die, appoint someone who can run the business, and if you own the business partially, you should consider talking to your partners abut a payout in case of your death. Documents such as the will, trusts, insurance policies, certificates on stock and information on bank accounts should be kept safely in a place they cannot be destroyed or even stolen, this makes sure that your estate plan is good to go in case you are there no more.
Canadian painter and photographer