Steps You Should Take After Establishing Your Estate Plan

You've researched your estate planning options. You've engaged a professional to develop a custom plan that suits your specific needs. The documents have been signed. You've received your originals and copies. What next?

Nevada attorney Stephanie Hartman Rojo of Stone Law Offices, Ltd. details the Steps to Take After Establishing Your Estate Plan here:

1. Not everyone is comfortable sharing the specifics of their estate plan. It is important and recommended that you at least tell your Executor, Trustee, or other nominated Fiduciary that you have an estate plan and where to locate it! You should also share your attorney's contact information with your friends and family. Let them know to contact your attorney in the event of an emergency.
2. Take the time to align or retitle your assets into your trust to avoid probate when you pass away. Once you provide your asset information to you attorney she or he can can provide detailed recommendations for each asset specifically. You may also wish to keep a list of your financial institutions (but not account numbers!) in your estate planning binder so that everything is together and organized for your Trustee upon your passing.
3. Confirm whether your attorney will keep a digital copy of your estate plan in their records. Most attorneys will return your originals to you. Keep them in a safe place. Safe deposit boxes are not ideal if you are the only one listed on the box, you can learn more about why here. Rather, keeping your estate planning documents in a discoverable place at home is sufficient in most cases.
4. Complete your Remembrance and Services Memorandum, which allows you to outline your wishes for a funeral service, who to notify upon your passing, and helpful information for an obituary, among other items. Then, forward a copy to your attorney for your file. If you have a contract in place for preplanned services, add a copy of the contract to your estate planning binder.
5. Keep a standing 3-5 year appointment with your estate planning attorney to conduct a fire drill review of your estate plan. If you have changes that need to be made, don't write on your original documents! Instead, immediately reach out to your attorney to discuss whether and amendment, restatement, or revocation makes sense.

Schedule a conversation with an estate planning attorney at Stone Law Offices, Ltd. at 702-998-0444.

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