2018 is here: how are your New Year’s Resolutions going? If your resolutions included getting your affairs in order, call your estate planning attorney today, and get that process started.
We all know that most resolutions fall by the wayside before Groundhog Day (February 2). We try, we really do, but it’s hard to completely overhaul years of habits in two weeks. There is, however, one thing you can do that will make a big difference in your life, and you can start it with a phone call: starting or updating your estate plan.
Birmingham Business Journal’s recent article, “Why an estate plan should be a resolution for 2018,” says that planning for your family’s future once you’re no longer living, or unable to make choices for yourself, will have a serious impact on your entire family.
Once you sign your last will and testament and living will, you immediately eliminate a lot of stress for your family, because no one will need to guess about your final health care wishes or where you wanted your assets to go.
As we move into 2018, make the resolution to remove the guess work from these extremely important decisions and plan for your and your family’s future. Preparation now can avoid unnecessary expenses and family squabbles.
When you create an estate plan, you can achieve your long-term goals and preserve your legacy for your children and grandchildren. You can also give to the charity of your choice.
If you don’t have a plan for your estate, the state’s plan may not align with what you would have wanted. If you die without a last will and testament—known as “intestate”—the laws of the state will dictate how your assets will be distributed.
You don’t have to have a lot of money to need an estate plan. It’s more about taking care of those you love.
Trust us –take care of your estate plan early in 2018, and you’ll feel better. Your family will appreciate it. You can then focus on the rest of those resolutions!
Reference: Birmingham Business Journal (December 14, 2017) “Why an estate plan should be a resolution for 2018”