Why not make this year the year you finally give yourself and your loved ones the peace of mind of a well-thought-out estate plan?
With the New Year behind us, our thoughts inevitably turn to new beginnings and self-improvement. A survey from Statista shows that last year many of us resolved to eat healthier and exercise more (37%), save more money (37%), get a new job (14%) or start a new hobby (13%). [1]
With all that boundless optimism, it’s not surprising that “talk to an attorney about incapacity and death” didn’t make the list. Here’s a novel idea, however: why not make 2019 the year you finally give yourself and your loved ones the peace of mind of a well-thought-out estate plan?
Many of us hear the words “estate plan” and immediately tune out. After all, it can be hard enough to focus on the things that keep us busy from day-to-day without planning for the future. A good estate plan, however, can provide peace of mind to you and your family today and for years to come.
Estate planning is about more than what happens to our things when we die. While your estate plan should include a will or trust to dictate your final wishes for distribution of your property and assets, a well-considered estate plan also addresses what type of care you receive in the event of your incapacity due to accident or long-term illness, nominates someone to handle your finances if you are unable, and can empower a trusted agent to plan for the cost of your long-term care.
Your estate planning documents can also provide future protection for your minor children by nominating a person to care for them if you no longer can (called a Guardian) and can appoint a financial decision maker for their childhood and young adulthood, as well (called a Conservator or Trustee).
With so many things to consider, estate planning might sound like a laborious, boring process, but it doesn’t have to be. In a brief meeting with one of our experienced attorneys, we can find out what matters to you and devise a plan that fits your wants and needs to a tee.
So this year, you should absolutely resolve to learn to knit and speak Japanese, do your nightly sit-ups and pushups, and save a little more for the kids’ college fund. You should also call us and schedule an appointment to create or update your estate planning documents. Knowing your loved ones are protected and cared for if something happens to you will provide a feeling nearly on par with enjoying a hot cup of eggnog and one more slice of pie, and you won’t even have to do extra sit-ups the next day.
Call an attorney at the Law Offices of Nay & Friedenberg to discuss planning for you and your loved ones. We will take the time to understand your needs and craft a plan specific to your unique situation and goals.
[1] https://www.statista.com/chart/12386/the-most-common-new-years-resolutions-for-2018/