The start of a new year is a time for celebration and reflection. Plenty of people like to get a fresh start by committing to New Year’s Resolutions, plans to break new ground and find new approaches to old problems. As you make resolutions about your life, it is also a great time to look at something that is personalized to your ever-changing life: your Estate Plan.
An Estate Plan is a legally-binding document created with the assistance of an attorney that dictates what will happen to your remaining property, belongings, and money after you pass away. There are all kinds of methods of Estate Planning. An Estate Plan is also a reflection of its creator’s life, and just like life itself, no Estate Plan is written in stone. Here are the 3 Estate Planning Resolutions that you should make this New Year:
Have a Strong Estate Plan
If you don’t already have an Estate Plan, your first resolution should be to make one. If you pass away without an Estate Plan, those same decisions are made by a Judge in probate court. Probate can be long, expensive, and emotionally draining for your loved ones – who don’t get the final say in where your property ends up. Creating an Estate Plan is the only way to put the power back into your own hands.
Make Updates as Needed
The New Year is a great time to review your existing Estate Plan and look for any needed updates. If you have gone through any major life changes in the last year, such as getting married, getting divorced, losing or changing your job, or welcoming a new child into your family, updating your Estate Plan is a must. No two states do Estate Planning the same way, so if you’ve recently moved, it’s time for an update too.
Put Your Trust in Us
Trusts are an excellent way to help achieve your Estate Planning goals. Belongings that you pass along through your Will will go to probate court before being divided according to your wishes. Money and belongings that you place into a Trust, however, will immediately go to your loved ones when you pass away. You can create Trusts for loved ones, children with special needs, charities, and all kinds of purposes.
Get a Jump On It
Let’s not allow your 2022 Estate Planning Resolutions to go the same way your 2021 ones did. The New Year is the perfect time to make, update, or expand your Estate Plan! For help with all your Estate Planning needs, contact Velazquez Consumer Law, LLC today! We provide solutions and shield you from surprises.
Velazquez Consumer Law
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