It is the time of year when most people reflect and discover what they can do differently to have a positive impact for the year ahead. Popular resolutions often fall under the category of weight loss, being kinder and spending more time with family. Estate planning is regularly overlooked as a New Year’s resolution. Regardless or your age, income or family status, it is important to have an estate plan in place. Don’t wait until it’s too late! The upcoming year is the perfect time to take action and have peace of mind.
Here are three reasons why an estate plan should be a New Year goal for 2016:
Preserve Your Wealth
An estate plan allows you to provide for your immediate family. A surviving spouse, children, or parents are all examples of beneficiaries you can leave your wealth to. Without an estate plan, you lose say on how the wealth gets distributed. A good attorney will create an estate plan that allows you to preserve your wealth tax-efficiently.
Being able to distribute your assets in a timely fashion is important and relieves stress on family members. A legal estate plan not only minimizes legal hassle but also unexpected expenses. Having an estate plan reduces the cost of transferring assets to beneficiaries and therefore leaves more money to them.
“Leave your family members with a peace of mind in a time of distress.”
Support A Cause
Did you know you can help support a charity or cause of your choosing in your estate plan? Leave a lasting impression by supporting a charitable cause throughout your life or upon your death. You can donate your retirement assets or even make an outright gift.
We understand that creating an estate plan can seem intimidating. It is easy to think you will get to it tomorrow or next week. The next thing you know it will be 2017! Ready to get started? Call us today for your free 30 minute phone consultation.