The last post on our blog was likely not the first time Florida residents have heard that it is better to start estate planning now rather than later. But once that is said, where do you even begin estate planning?

A good first step would be to set up an appointment with an estate planning attorney, but that conversation could leave you with so much information that you wind up feeling overwhelmed. So, in the interest of making sure that conversation is efficient and helpful to you, here are a few things you will need to consider.

First, if you have children, think about who might be a good person to look after them if you die. This guardian should be someone you trust and respect and someone who has the means, both financial and personal, to raise your children in a way with which you are comfortable.

Then, think about what you would like to have happen if you were unable to make your own medical decisions. Do you want to leave a set of instructions for your doctor to follow, or would you prefer to name someone to make decisions on your behalf?

Lastly, think about the grand total of your assets and whether it makes more sense to give them to one or a few beneficiaries, or if it would be better to split them up among many beneficiaries. Naming a beneficiary takes time and consideration and should not be a decision you rush into.

Source: Forbes, "A Common Sense Approach to Estate Planning," Nancy Anderson, Jan. 19, 2012