Estate planning is used to manage future concerns: tax strategy, retirement savings, inheritance management, and more. Since these plans are for the future, it is easy to get trapped in procrastination and fear. Even if retirement seems far away, right now is the time to take action so that you are ready no matter what happens.
Creating a good estate plan reduces or eliminates worry and stress. Often, people find that estate planning seems like an impossible task, only to discover that they breathe a sigh of relief after meeting with a professional. It is “normal” to want to delay or avoid this process. But the best thing you can do is act now to prevent future anxiety for yourself and your family.
Tips for a Complete Estate Plan
An easy, effective solution is to have an experienced attorney assist with creating an estate plan. While there are DIY guides out there, a legal professional is especially important for those with significant assets, or complex family or financial situations. Your attorney will guide the conversation, manage the paperwork, and assist with the details that need to be addressed.
An estate plan should include more than your will, financial information, and inheritance details. Everyone 18 and older should have a healthcare advance directive and also look at other services to support the plan. A complete estate plan contains a number of elements involving health and finances. There’s no reason to delay this planning. Instead, set a goal to get started with estate planning as soon as possible.
Keep in mind that creating a plan is just the first step. Regular reviews ensure that your plan is current and relevant as life changes over the years. Experts suggest an estate plan be reviewed by an experienced attorney every three to five years. It is also smart to schedule a legal consultation if there is a significant life change, such as the death of a partner, divorce, marriage, and more.
At Windward Life Care, we understand the importance of using professional services for all aspects of life planning. Our team is here to help you find local resources to assist with your needs.