Estate Planning with Trust Plans: Important Dos and Don’ts

 In Blog, The Protected Family

Estate planning is a key part of financial and retirement planning, as it can help to ensure that a person’s assets are managed and protected in the event of their death or incapacity. The process involves making decisions about the ownership and transfer of property, assets, and other investments after death. It can provide peace of mind, knowing that their wishes will be carried out and their estate will be taken care of.

Even though creating and carrying out an estate plan is usually not simple, there are a few dos and don’ts you should immediately bear in mind.

Estate planning is an integral part of life, and it is important to understand the dos and don’ts of estate planning. 

Dos of Estate Planning:

  • Have a Will: A will is the most important document in estate planning. It outlines how you want your assets to be distributed after your death. It is vital to keep your will up to date and accurate as it is legally binding.
  • Plan Ahead: Estate planning should be done early on in life. This will help ensure that all of your wishes are considered and that your estate is distributed according to your wishes.
  • Make Wise Beneficiary Selections: If you name beneficiaries, your assets, including cash, bank accounts, stocks, bonds, real estate, and other valuables, will be distributed to the persons, organizations, or charities you choose. Suppose you don’t choose a beneficiary for each item. In that case, the probate process can take longer, and the person you select to handle your estate administration might find themselves swamped with paperwork.
  • Get Professional Help: Estate planning involves complicated legal and financial decisions. Getting professional help from an experienced attorney or financial advisor is important to ensure your estate plan is properly executed.
  • Review Your Plan: Estate planning is an ongoing process. It is important to review your estate plan regularly and make sure that it is up to date.

Don’ts of Estate Planning:

  • Don’t Put It Off: Estate planning should not be put off. It’s important to ensure your wishes are considered and your estate is properly managed.
  • Don’t Overlook Tax Implications: Estate planning involves complicated tax implications. It is imperative to understand the tax implications of your estate plan to ensure your estate is properly managed.
  • Don’t Forget Your Beneficiaries: Estate planning involves deciding who will receive your assets after you pass away. Ensuring your beneficiaries are accounted for in your estate plan is important.
  • Don’t Do It Alone: Estate planning requires professional help. It’s important to get help from an experienced attorney or financial advisor.

Why Do You Need an Estate Planning Lawyer with Trust Plans? 

Trust plans are an important part of estate planning. A trust is a legal entity that holds an individual’s assets in a fiduciary capacity. The trust is controlled by the trustee, who manages the assets according to the instructions in the trust document. 

Trust plans can help protect your assets from creditors and protect them from being subject to probate. They can also help ensure that your assets are distributed according to your wishes.

An estate planning lawyer can help you create a trust plan that meets your needs. The lawyer can help you determine what type of trust is best for your situation and can help you draft the document. The lawyer can also help you manage the trust and ensure it is administered according to your wishes.


Estate planning is a vital process that should not be taken lightly. Working with a qualified lawyer and consulting with them about your estate planning needs is important. A lawyer can help you create a comprehensive estate plan that will provide you with the peace of mind that your wishes for the future of your estate will be respected. Ultimately, an estate planning lawyer can help you protect your assets and ensure your wishes are respected after passing.

For all of your estate planning requirements, including wills, trusts, probate, and legacy planning, get in touch with attorney Marc Carlson. Schedule a consultation today!

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