How To Plan
Planning now can protect you and your assets.
By taking time to inventory your assets and define your estate planning goals, you will significantly reduce legal and consulting fees. To start, you will want your plan to shelter the maximum amount of assets from taxation and insure your instructions are carried out exactly as you wish.

Inventory
You will need to list your basic financial information on an inventory sheet, which should include all major assets and liabilities. Generally speaking, your “estate” consists of the value of all of the assets you own, minus your liabilities. Major assets may include real estate, investments such as stocks (including retirement accounts), bonds and mutual funds, and any interest you have in partnerships or life insurance policies. If you own a business you may want to have your interest valued by a professional appraiser. Liabilities may include the mortgage on your home, any investment related debt and other personal obligations

Please note that it is also important to list how the titles of your assets and liabilities are held, i.e. joint tenancy, as community property, etc.,

Objectives
Your objectives will depend on such factors as your age, age of family and beneficiaries, the needs of your beneficiaries, retirement benefits, current value of your estate and your beneficiaries’ ability to handle their own financial affairs.
Every situation is different. With Fred Schoen, you will be able to tailor an estate plan to your needs, working in conjunction with an attorney.