Choosing the right time to plan your estate

Choosing the right time to plan your estate

On Behalf of | Jan 13, 2021 | Firm News |

Creating an estate plan can take as much or as little time as you want. It all depends on what you hope to yield from formally coordinating your end-of-life affairs. Starting as soon as you can allows you ample time to make thoughtful and informed decisions without the mounting pressure of death getting in the way. 

Regardless of your circumstances in life, there is no reason to wait to begin estate planning. Starting now can add confidence and reassurance to your life, as well as help you protect the people and things that mean the most to you. 

A strategic move

More than anything else, planning your estate far in advance of your needing it, is a strategic move to help you obtain the maximum control over your affairs. The sooner you begin, the more effectively you can continue to maintain some control over aspects of your estate even after you pass away. According to U.S. News, you can choose how to distribute your assets. You can coordinate the long-term care needs of your children and pets. When carefully pursued, you can even reduce the tax burden of your surviving family members through strategic financial planning. 

An ongoing process

Because there is no perfect time to plan your estate, you would benefit from starting to plan right away. Once you have finalized the details of your plan, you will find yourself revisiting it often to tweak things to better meet your needs. 

Experts recommend periodically reviewing your plan to make sure it remains updated. Major developments in your life including career growth, marriage, the birth of children, divorce, adoption and even lifestyle changes may all require you to modify your estate plan to preserve its integrity. 

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