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appointing a guardian for young children , naming a beneficiary and dividing up assets. Among the professionals you should consider hiring to help you make decisions, a state certified attorney or specialist (EPLS); a certified public accountant (CPA), practicing in the area; a chartered life underwriter (CLU); a certified financial planner (CFP); a chartered financial consultant (ChFC); a trust officer; and an accredited estate planner (AEP).

Here are some tips to help you put together a plan that will give you and your family some peace of mind:

• Draw up a will. Dying without one increases costs, takes away control of your family's assets and adds stress for your family.
• Keep all your valuable papers together such as insurance policies, wills, bonds, investment records, birth certificates, marriage certificates and social insurance numbers. Be sure your family knows where they are; don't leave a game of "hide & seek."
• Review your life insurance policy and keep your program up to date. It is the most cost effective way to create the cash to pay bills and provide income.
• If you have insurance, consider a named beneficiary if it is appropriate. If you name your estate it could slow down receipt of monies to pay bills and provide income. Having the proceeds paid to the estate increases executor's fees and gives one more opportunity for the proceeds to go to the wrong people.
• Explore leaving property and investments as "Joint with rights of survivorship" so ownership can be changed with the least cost, "red tape" and time delay.
• Keep some of the assets "liquid" so that there is cash to pay bills upon death. If not, this takes away the flexibility to preserve the value of the estate and to avoid a forced sale of assets.
• Suggest to your potential survivors that they seek advice and do postmortem tax planning. If you've done a good job of creating your estate, your family will need competent advisors to help manage the assets.
• Annually, fill out a Net Worth Statement showing a detailed list of what your assets are, where they are and their current value. Do an Income Statement showing all current income sources, but also a list of the type of income and amounts which continue after death.

Once you have your plan in place, make sure you discuss with your family or professional advisors how you want your estate to be distributed. Don't keep everybody in the dark until the end. For more information about estate planning, log onto the National Association of Estate Planners and Council’s Web site, www.naepc.org

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