At the beginning of the new year, many of us participate in the longheld tradition of creating resolutions. Our goals for the coming year are meant to benefit and hold ourselves accountable. A resolution you should add to your list of goals is to begin or update your estate plans. Read on to find out more about why you should start estate planning in 2021 and the ways it can benefit you.
Resolution: Ask More Questions
There are a lot of misconceptions surrounding estate planning. This year, resolve to ask more questions. This can benefit you in many aspects of your life. Unsure of what a power of attorney is? You’re not alone! Do some research and contact an estate planning attorney to clear up any questions you may have been meaning to ask. This makes it much easier when it comes to beginning the estate planning process.
Resolution: Begin the Process
A lot of people continuously put off estate planning. It can be difficult to plan for the future when there is so much to focus on in the present. But, life can be unpredictable and it is important to prepare for all sorts of circumstances. Planning ahead will greatly benefit you in the long run. Estate planning is one of the most important things you can do for your friends, family, and future self. You may want to create a will, trusts, a power of attorney, a healthcare directive, and any other documents that may benefit your estate plan. Contact a skilled estate planning attorney to begin the process.
Resolution: Update Your Current Estate Plans
Many people create estate plans and then completely forget all about them. Once you have created your plan, it can be easy to simply move on and take the “out of sight out of mind” approach. This is a big mistake that many people make. Your life changes drastically over the years and your current estate plans may not reflect these changes at all. In fact, your estate plans can seem like they’ve been created by an entirely different person. Some common reasons to update your estate plans include:
- Marriage/ remarriage
- Adoption/ childbirth
- Large change in assets
- Death of a loved one included in the original plans
If you fail to update your estate plan, you may accidentally include someone who is no longer in your life, or exclude someone important.
If you are interested in beginning or updating your estate plans, contact our firm today.
Contact our Firm
If you or a loved one needs assistance creating an estate plan and wish to speak with an experienced attorney, contact the Law Office of Andres D. Gil, PLLC today.