By the time you reach your 40s, you're likely going to be in a position where you need to start thinking about your assets and protecting them for your beneficiaries. You may have children, multiple properties, a large savings or other factors to consider.
The 40s are a great time to work through your estate plan, because you're old enough to have established assets but young enough to have some time to plan. There are some great things you can talk to your attorney about when you go to your consultation.
Speak about retirement
The first thing to talk about is retirement. You may have worked several places by now, so there's a chance that you'll have multiple 401(k) retirement plans, stock options, deferred compensation and more. You and your attorney should sit down and talk about the instructions you would like to give for these assets. If you pass away, your estate plan will dictate where these assets are transferred.
Another thing to bring up is divorce. If you have been divorced, you want to go through your estate and make sure your ex-spouse isn't the beneficiary to assets that they are not supposed to receive as a result of your divorce settlement. You can also establish trusts or inheritances for children from your first marriage, so that your estate plan reflects your preferences and the way you'd like to distribute your assets if you pass unexpectedly in the future.
Your attorney can talk to you more about other things you may want to include in your estate plan, too. Our site has more on this important topic.