Don’t Procrastinate – Execute Your Documents Now

Estate planning is a crucial part of preparing for the future of your money, assets and healthcare. Two main goals of estate planning are to avoid probate and reduce taxes amongst the estate. Estate plans have multiple sections to ensure the protection of a person’s property. These sections include a will, trust, joint tenancy, beneficiary designations and life insurance. It also ensures that the healthcare and wellbeing of the individual or of their minor children are protected in case of sudden death, sickness or accidents. Once the estate plan is created, so long as it is a revocable plan, it can be changed at any time depending on future events or new decisions that need to be made. For example, the birth of another child, grandchild, divorce, or changes in the law may necessitate an amendment to your plan. There are a few things to keep in mind to ensure a successful estate plan is set in motion. It is very important to hire someone who is listens to your individual goals and keeps you on track so that you do not procrastinate finalizing your documents.

When are you going to start your estate plan?