October is Estate Planning Month
It’s hard to believe that 2022 will be coming to a close in just a few short months. October is National Estate Planning Month, and with 67% of Americans having no will or trust, I can’t think of a better time to revisit, or maybe for the first time, pull together an estate plan.
Don’t let another year go by without a plan in place—it’s not worth the pain and uncertainty your family could face if left unprotected. Here are seven things to keep in mind as you think it over:
- Estate planning is crucial for people of any age or income status.
- If you have young children, you need, at a minimum, a designated guardian and a trust with instructions should you encounter unexpected death or disability.
- Without a trust in place, a judge will decide about your child’s care and the distribution of your property, often following expensive legal proceedings.
- If you don’t have children at home, an estate plan is still critical to address asset protection, wealth distribution, property management, and healthcare decisions.
- At a minimum, an estate plan will include a will and testament, durable power of attorney, a health care power of attorney, and an advance directive.
- An estate plan can be completed, start to finish, in just a few weeks’ time.
- If you have an estate plan, but your life circumstances have changed (marriage, divorce, beneficiary/executor death), it’s good to update your plan.
If you’d like to discuss estate planning, now is the time. We can have it all tied up long before the holiday rush. Give our office a call today, and let’s make sure your family is taken care of no matter what the future holds.
For more information on what our office can do to assist you, visit ravosalawoffices.com.