Some of the basics we all need to have are a budget, a bank account, insurance and an estate plan. This last one shouldn’t be delayed until your 50s, 60s or later, says The Huffington Post in its article “Why Estate Planning Makes Sense at Any Age”
An estate plan is essential no matter what your financial situation or age.
Sure it’s easy to not think about taking steps for estate planning. In fact, a recent ABC News poll found that only about 50% of Americans have created a will. Fewer still have created supporting estate documents.
Having a plan can help bring you peace, get you on the road to stronger financial security, and help those about whom you care most.
Estate planning can be a holistic process to set your finances on a much more successful track for the rest of your life. Proper planning is about creating and maintaining good financial behavior.
The estate planning process isn’t supposed to be a “set it and forget it” process. When your life changes in a significant way, that’s a reminder to review both your financial and estate plans to make sure you’re still on course. Estate and financial planning need to be connected.
How do you begin an estate plan? Of course, there are a lot of carefully drawn documents involved. But it’s the planning behind them that really makes it work.
Speak with a qualified estate planning attorney soon to make certain your plans fit your needs and those of your loved ones. Contact Family Security Law Group, APC to speak with one of our qualified estate planning attorneys.
If you die without a valid will, the state will distribute your assets based on the intestacy laws.
Reference: Huffington Post (June 8, 2016) “Why Estate Planning Makes Sense at Any Age”