People often think that estate planning is daunting, confusing and overwhelming. They imagine that they will have to gather extensive documentation and paperwork, and it can sometimes lead to procrastination. They just put the task off because it feels like too much.
One thing to remember is that getting started with an estate plan can actually be fairly simple. Just identify some of your major goals and start building a plan that addresses them. You can always update and revise the plan in the future.
Estate planning with minor children
For instance, maybe one of your children is a minor, so you are worried about what would happen to them if you passed away unexpectedly. A simple way to address this could be by choosing a guardian. You at least put the basic framework in place for someone else to legally care for your child if you cannot, so you know that their future is secure.
Estate planning for medical decisions
Another common issue is that people will use their estate plan to address making medical decisions in the future. If you are worried about becoming incapacitated, whether through illness or injury, you could use an advance directive to list your medical decisions now. You could also use a medical power of attorney to choose an agent who can do so for you, but only if you become incapacitated.
This helps to show how just a few basic documents can form the basis of your estate plan. You can always take further steps in the future to address complexities like dividing real estate or family heirlooms, but getting started with an estate plan does not have to be difficult. Just make sure you know what legal options you have.