Back at the beginning of 2019 we made a few goals for ourselves for the year. Getting an estate plan in place was near the top of the list. Actually, getting some sort of will in place was the goal. We didn’t know we actually wanted a full estate plan. We had a lot of questions before we spoke to anyone about it. Like, I thought maybe we could just write out what we wanted to happen on a bar napkin like in the movies. Maybe not that simple… but there was definitely more to it than what I had originally thought we would need.
Being unaware of what we actually wanted, and the process of setting up a will, we reached out to several law firms to try to learn more. We wanted a firm that specialized in estate planning and could answer all the questions we had. A lot of firms appeared to do estate planning for the elderly, but we wanted to be sure we dealt with people who also catered to younger parents, like ourselves. After speaking to a few, we decided to set up a meeting with Finity Law Firm in Winter Park. Right off the bat, we clicked. They seemed to be able to break everything down into understandable language and a very easy process to follow. We were happy that even though there was much more to be done than we had realized, it was all going to be easy and achievable to complete.
During our conversation we learned that most people wait until they are older to set up an estate plan or set one up if they are going to do something dangerous, like bungee jumping (LOL). But those two factors aside, everyone needs a plan. Young families especially can benefit from taking the time to form an estate plan. It’s scary to talk about or even think about, but saves a lot of hassle in the long run should anything occur. We were so happy to meet with the team at Finity Law Firm and get a clear grasp of our next steps. In fact, we learned so much that we set up a Facebook Live conversation for you to view because we found it so valuable. Click here to watch the video.
After our initial conversation, we went back home to start gathering the information we needed to put the estate plan together. Part of gathering the information was to have a conversation about what we wanted to happen to our kids if the unthinkable happened and we were no longer around for them; to make sure we were on the same page. We also needed to take a look at how we would make medical decisions as we age. Though we were nervous to have these conversations, once we actually did we were filled with a huge sense of relief that we had answers to what we’d do in the face of hard times. With our information ready, we filled out a simple online form, it took maybe a half an hour total. That part was easy peazy!
After we completed our form online, the attorneys at Finity Law went to work completing our estate plan. It took about a week for them to complete all of the paperwork and reach back out to us to set up a signing appointment. During that appointment we went over all of the paperwork (there is a lot!) and everywhere we would need to sign. Our attorney also reminded us what each document meant, what we had outlined in our forms, and that it had been drafted to our preferences. Then, in a smooth assembly line style process, we signed each document and it was all official!
But there was one last step we had to complete! Now that we had our estate plan, we needed to fund it. Because the estate is a legal entity, we needed to list it as our beneficiary. So instead of our life insurance, financial accounts, etc. paying out to either of us after a tragedy, it pays into the estate. The attorneys at Finity Law even helped with easy ways to do that!
All in all, our process was very simple and not one you should procrastinate on if you are thinking about getting this done in 2020. Put it on your to-do list immediately and get the same sense of relief we did in getting your plans in place. Get started by following the steps below!
You can start your estate plan with three easy steps:
- Discuss your wishes as a family.
- Begin by listing your assets out and who you want to get them. If you have minor children, you should consider primary guardians and secondary guardians. Additionally, you will want to choose backups for personal representatives, trustees, health care surrogates, and powers of attorneys.
- Download this FREE estate planning guide for more information.
- Set your FREE consultation with The Finity Law Firm today:
- Call: (407) 636-4066 or send an email!
- Let them know you heard about them through Momlando for a friends & family discount on your estate planning services!
This post is sponsored by The Finity Law Firm, an organization whose mission we love. We are proud to partner with companies that provide such incredible services to local families. Thanks for supporting companies that support Momlando.
