Why Estate Planning Should Be at the Top of Your Resolutions List
Another year is coming to an end, and another is about to begin. So, now that 2020 is just around the corner, what resolutions are you going to make?
Making New Year’s resolutions is a time-honored tradition that exists all around the globe. We all hope for a better future for ourselves, especially if the year we are leaving behind has been a tough one.
While some resolutions seem trivial, estate planning goals are far from insignificant. Ensuring your estate planning matters are in order is a shrewd way to plan for your future. Not only does it help you, but it also helps your loved ones and saves them from enduring additional grief down the road. It ensures that you and your family are cared for in the event of a worst-case scenario. Additionally, it can benefit your assets and paves the way for a smooth probate process.
One of the essentials in estate planning includes drawing up a will. A will is a document that clearly states your wishes pertaining to the division of your assets following your death. It also names the executor, the person who is to carry out your requests expressed in your estate plan. Rather than have your possessions and property fall in unwanted hands as well as avoid family disputes, a will offers peace of mind and can help to avert a crisis.
It is commonly viewed that wills are designed for wealthy people. However, this is a misconception. Anyone with a bank account, a home, or a family needs to have a plan in motion for what happens if they become incapacitated or pass away. The complexity of the arrangements will, of course, vary from person to person. No matter the circumstances, all estate plans should be put together with the help of a trusted attorney.
For those who currently have a will and have gone through the estate planning process, it is wise to get an estate plan check-up to ensure everything is up to date; a lot can happen from year to year (e.g., moving, getting married, having a child, etc.). Estate planning is not a static event that you do once and leave alone. It’s a continual process because life is always going and full of constant change. Make sure your estate plan reflects the changes in your life.
As we start planning for 2020 and looking forward to what it and the years to come have to offer, It’s important to make resolutions about the things we care about and make us feel whole. So consider making a resolution to create an estate plan for you and your family today. It may not be the most thrilling resolution, but it’s highly important nonetheless. If you have any questions about how establishing estate planning goals can help your family, Burrows Law Group is more than happy to assist you. We have an experienced team to help keep your eyes focused on a brighter 2020 and beyond. Call (972) 402-6266 to speak to an estate planning attorney today!