Estate planning is one of those tasks that routinely falls to the bottom of the to-do list. Everyone knows that it is important. Everyone vows to do it. However, it somehow never quite gets the attention it deserves. It is basically the prototypical candidate for a “New Year’s Resolution.”
Completing or updating the family estate plan can make for a simple and rewarding resolution. Contrary to popular belief, the process does not need to be an extremely time consuming or expensive process. You may be just a few questions, answers, and documents away from being able to say that not only did you make a New Year’s Resolution, but you kept it too.
Here is SLH’ estate planning resolution checklist:
Understanding Your Estate Planning Responsibilities
- Do you have a will?
- Have you reviewed or updated it lately (Minimum of past 5 years)?
- Would your estate trigger tax consequences for your beneficiaries.
- Do you have children?
- Have you considered or made trusts for them?
- Are there other family members who ultimately somehow rely on your wellbeing for their wellbeing?
- Do you have a plan in place for how you would provide for them if something were to happen to you?
- What do you have?
- What is it worth?
- How is it titled?
- Where do want it to end up?
How SLH Can Help You in Your Estate Planning Journey
There are several very basic documents like wills, powers of attorney, advanced healthcare directives, and others that can help take the pressure of these questions off your shoulders.
If the above questions at a minimum have you thinking about whether you have your assets and estate planning in order, chances are you may be in good company, however you may very well be complicating matters for your family or loved ones. Don’t delay getting your estate planning in order for another year. Make it priority in 2021. There is too much at stake and a complete lack of planning generally results in additional problems and complications for your survivors. You can feel better about your estate matters by at a minimum discussing what you may need by way of planning with our estate planning professionals at SLH.
For more information, please contact Snee, Lutche and Helmlinger by clicking here: http://www.slhslaw.com/contact/