Estate planning is a difficult topic to address because it requires you to think about a world without you in it. No one likes to reflect on their own demise, which is why many people simply put estate planning off for another day and only get around to it when the chips are down.
However, like so many things in life, taking care of your estate planning now is the right step, even if you don't have any dependents. It's a weight off your shoulders, and it leaves plans in place if the unthinkable were to happen to you.
If you have a significant net worth, you should consider talking to a lawyer for planning advice for your estate, but for most people, these four steps should take care of most of your estate planning needs.
1. Prepare a master information document. A master information document is simply a collection of the information a person would need to properly close out your accounts and obtain any and all account balances you might have. This is an invaluable tool for whomever is responsible for cleaning up your estate after you pass away.
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