There is much more to effective estate planning than simply drafting a will, with several other steps required to ensure assets are transferred to the desired beneficiaries smoothly. Read more: https://medium.com/@dredgarpaltzer/creating-an-estate-plan-b4f27d195c65

1. Tips for Successf ul
Estate Planning
b y D r E d g a r P a l t z e r

2. 2
TIPS FOR SUCCESSFUL
ESTATE PLANNING
ESTATE PLANNING:
There is much more to effective estate planning than simply draf-
ting a will, with several other steps required to ensure assets are
transferred to the desired beneficiaries smoothly.

3. 3
Many accounts – including bank
savings, individual brokerage
accounts and CD accounts –
offer the option for the account
holder to set up a transfer on
death designation, which allows
beneficiaries to receive assets
without the necessity of going
through the probate process.
Transfer on Death
Designations
Many accounts – including bank sa-
vings, individual brokerage accounts
and CD accounts – offer the option
for the account holder to set up a
transfer on death designation, which
allows beneficiaries to receive assets
without the necessity of going throu-
gh the probate process. As part of
estate planning, the individual’s bank
or custodian should be contacted to
facilitate this if required.
Copy in the
Administrator
It is important to ensure that the esta-
te administrator is given a copy of the
will once it’s finalized, signed, witnes-
sed and notarized. Where copies are
made of a will, it’s crucial to bear in
mind that only the original will can be
filed for probate.
Letters of Instruction
A letter of instruction can be written
to accompany a will. This allows an
individual to leave detailed instruc-
tions and describe their personal
wishes regarding, for example, the
funeral, and the steps to be taken re-
garding the individual’s digital assets,
such as their social media accounts.

4. You can learn more
about estate planning
by visiting the blog of Dr
Edgar Paltzer.