When Should I Start Estate Planning?

couple standing together

You may already know the importance of setting up an estate plan; so that your loved ones may be financially protected when you are, unfortunately, no longer around to support them. But you may not know when exactly is the best time to kickstart this process. Read on to discover when you should start estate planning and how a seasoned Putnam County estate planning attorney from The Law Offices of Andres D. Gil, PLLC can help you initiate this.

When is the best time to start estate planning?

The fact of the matter is that the sooner you start your estate planning, the better. A common misconception is that you must wait until retirement age to start getting your affairs in order. But we can assure you that this is usually never the case.

You may procrastinate even more because you assume that you still have a lot of time to think about this plan. Or, you may avoid it because you find it sad to think about. But unfortunately, the truth is that nobody ever knows what day is going to be their last.

It would be devastating to have your estate go through the time-consuming, and oftentimes emotionally draining, probate process. What’s worse is if your loved ones end up at odds during this process. Ultimately, this can be all easily avoided with a valid and enforceable estate plan.

How do I start this process?

Evidently, an estate plan has a lot of thought behind it. So, the first steps in your estate planning process may entail the following points of reflection:

  1. Make a list of all your assets that you wish to pass down to your loved ones, regardless of their monetary value.
  2. Make a list of all your debts that you wish to take care of, so that your loved ones do not have to.
  3. Make a list of all your loved ones that you wish to make beneficiaries of your estate, along with the certain assets you wish to pass down to each.
  4. Make a list of instructions on how you wish your funeral proceedings and burial proceedings to be handled by your loved ones.

After you make all these considerations, then you may proceed forward with speaking to an attorney. Importantly, it is almost always discouraged to establish your estate plan without seeking sound legal advice. This is because the slightest error may make your plan unenforceable in New York State.

Regardless of what your specific circumstances may be, you must not second-guess your instinct to retain the services of a competent Putnam County estate planning attorney from The Law Office of Andres D. Gil, PLLC. Schedule your initial consultation with our firm today.

Explore More Of Our Practice Areas

Are you a service member or veteran of the U.S. Military?

We appreciate your service and we want to serve you! We proudly offer Free Consultations for veterans.

Get a Consultation

Send Us A Message

  • This field is for validation purposes and should be left unchanged.

Read Our Latest Blog Posts