What information do I need to prepare my Estate Plan?
Whether you're considering a Will or a Trust, both require specific information to prepare effectively. Here's what you need to know to get started on either option:
Common Requirements for Both Wills and Trusts
- Basic Information: Details about you, your family, and any pets.
- Guardian Appointments: Selection of a guardian for the care of your children and pets.
- Asset Distribution: Decisions on who receives your assets, including any charitable gifts or specific bequests to individuals.
- Asset Information (optional): You can choose to provide information about your assets to assist your Successor Trustee or Executor collect and distribute your Estate, but it's not legally required.
Specific Information Needed for a Will
- Executor Designation: The executor is the person responsible for administering your estate and carrying out the instructions in your Will. You'll be asked to provide their email address, which is saved to your People section for reference and identity verification purposes.
Specific Information Needed for a Trust
- Trust Name and Successor Trustee: You'll need to choose a name for your Trust and appoint a Successor Trustee (the person responsible for managing and distributing your assets). You'll also be asked to provide their email address, which is saved to your People section for reference and verification purposes.
After the Trust is created and signed, you'll begin transferring your assets. Transferring assets is what allows your belongings to avoid probate. Check out our Trust Funding Guide to learn more!