When Is It Time To Make A Plan?
Do you need an estate plan? If the question has occurred to you, you probably do. People from all walks of life benefit from having sound estate planning documents in place, including:
Those who have retired (or are close to it):
This is the most obvious group, and for good reason. When earnings from a career are no longer coming in, you have to maximize the income generated by your accumulated wealth and assets. Later in life is also when people start thinking about providing for loved ones in the event of death or incapacitation. By creating an estate plan, you can set these concerns aside and enjoy the comfort and stability you have worked so hard to achieve.
Anyone with children can benefit from a few estate planning fundamentals. A will, for instance, not only allows you to specify how your assets would be distributed in the event of an untimely death, but also lets you appoint a trusted friend or family member who would serve as a guardian of your minor children. No one likes to think about these possibilities, but taking a few commonsense measure now can put your mind at ease.
Anyone who has divorced and/or remarried
If you’ve recently gone through a major relationship change, chances are your estate plan will need some updating. This may include tweaking an existing will or drafting a completely new document. Once the dust settles from a divorce or a remarriage, it’s prudent to revisit your estate plan.
As an attorney with more than 30 years of experience, I can review your unique financial circumstances to determine how wills, trusts and other estate planning documents can serve your interests.