Whether or not you currently have estate planning documents, an estate plan checkup should be on your to do list.
A common misconception is that estate planning is only necessary for wealthy people. But this simply isn’t true:
Here's why you should have an estate plan:
Do you already have an estate plan?
If you do, then please pull your documents out of the drawer, dust them off, and look at the date you signed them.
Were your documents signed in the 80s or 90s, or the early 2000s? If so, your documents are likely terribly out of date. You need an update as soon as possible. Federal estate taxes, gift taxes, and generation-skipping transfer taxes went through major changes during these years.
And, it’s not just tax laws that are changing – regularly updated Advance Health Care Directives and Powers of Attorney are essential to taking caring of yourself and your family if you become incapacitated or die.
Regardless of what year you signed your estate planning documents, think about all of the changes in your life since you signed them. Did you get married or divorced, have a child or two or a grandchild or two, or move to a new state? Did you sell your business, retire, have a significant change in assets, or win the lottery? Any major changes in your family or financial situation will certainly have an effect on your estate plan.
Estate planning is not a static event that you can do once and then forget about it. It is a continuing process. Life is a moving target that is full of constant change. Your estate plan needs to change as your life changes.
We are here to help figure out how to get started, and how to keep up to date.
An estate plan customized to suit your family’s needs costs a fraction of what probate will cost. It allows you to control what becomes of your property. Plus, the paperwork after your death will be minimal, there will be no need to file anything with the probate court, and your personal business and finances remain private.
If you would like to learn more about creating an estate plan specific to you and your family call us for a free initial consultation at
email me at firstname.lastname@example.org
or use our online calendar to schedule an appointment