Planning for the future of your loved ones is a process that can be exceedingly rewarding, particularly if begun early. Many people tend to put off estate planning because they associate it with thinking about disability, illness or death. However, the truth is that estate planning is about the people you love. It’s about how you want them to be taken care of in the event something happens to you.
If you don’t put a plan in place it doesn’t mean events are not going to happen. The only thing that will happen is that you won’t be prepared and your family won’t be taken care of properly.
So begin as soon as you can and review your Estate Plan regularly. Good estate planning can reduce the taxes that will need to be paid on the assets you leave to your heirs.
Keep in mind that Estate documents should be reviewed and adjusted upon the occurrence of a major life event, such as a divorce, death of a spouse or child, remarriage, birth of a grandchild or any dramatic change in your finances.
In addition to helping you maintain control of your property while you are alive,
a properly executed Estate Plan will provide instructions for how you want to be taken care of in the event of a disability. Estate Planning will help ensure that you can give what you have to whom you want, when you want, and the way you want.
So, as you can see, Estate Planning can be an exciting endeavor that will be beneficial to you and your family throughout your life.