Follow our Five-Step Action Plan:
1. Write down your objectives. Whom do you want to receive your assets after you die -- and when? Whom do you want to manage your financial affairs -- and make medical decisions -- for you when you can't?
2. Inventory your assets and debts. Find out how much you own. If your estate will have to pay estate taxes after you die, you can start planning now to reduce or eliminate them.
3. Select a professional to help. Someone you will be comfortable sharing this information with, who can answer your questions, and who will be there when you need him or her.
4. Have legal documents prepared.
5. Change titles to your living trust. Remember, a living trust can only control the assets you put into it.
