An estate plan should be tailored to your assets, family circumstances and long-term wishes. It will usually begin with an up-to-date will stating who should inherit your estate and who will be responsible for administering it.
Depending on your circumstances, your plan may also include trusts to control or protect an inheritance, Lasting Powers of Attorney covering decisions made during your lifetime, lifetime gifting arrangements and inheritance tax planning.
You should also consider jointly owned property, pensions, life insurance, business interests, overseas assets and valuable personal possessions. It is helpful to keep a clear record of your assets, liabilities and important documents so that your executors or attorneys can locate them.
A professional estate-planning review can identify gaps and bring these separate arrangements together into one coordinated plan.