1 Your goals

Before you start drafting any documents or consulting any professionals, you need to have a clear idea of what you want to achieve with your estate plan. Do you want to minimize taxes, avoid probate, provide for your spouse or children, donate to charity, or preserve a family legacy? Your goals will determine the best strategies and tools for your situation, and they will help you communicate your wishes to your loved ones.

3 Your documents

The next step is to create the legal documents that will carry out your estate plan. Depending on your goals and assets, you may need a will, a trust, a power of attorney, a health care directive, or a combination of these. A will is a basic document that specifies who will inherit your assets and who will be the executor of your estate. A trust is a more advanced tool that can offer more control, flexibility, and protection for your assets and beneficiaries. A power of attorney and a health care directive allow you to appoint someone to make financial and medical decisions for you if you become incapacitated.

4 Your professionals

Planning your estate in real estate can be a complicated and daunting task, especially if you have multiple properties, complex family dynamics, or special needs. That's why it's important to consult qualified professionals who can help you navigate the legal, financial, and tax implications of your estate plan. You may need a lawyer, an accountant, a financial planner, a real estate agent, or a combination of these. They can help you create, review, and update your documents, as well as advise you on the best ways to transfer, sell, or manage your properties.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?