Why Do I Need to Complete or Update My Estate Plan?
We have all experienced those moments where we think “I need to complete or update my estate plan.” But it may be that the last 2 ½ years have served as the strongest reminder.
Do you remember the moment when you realized the world was shutting down? Somewhere towards the end of March 2020, we experienced a collective astonishment as life shifted for most of us to the confines of our homes. If ever a single event showed us the fragility of life, the Covid 19 pandemic certainly did. Many of you lost loved ones or had close friends or relatives spend weeks in the hospital battling for their lives. The absence of advanced directives and health care appointments pushed families into very difficult positions as they often could not get the medical information they needed due to federal privacy laws. Even more families found themselves burying loved ones and scrambling to handle the aftermath of finances, property and medical bills with no wills in place and no access to important accounts or insurance policies.
Now is the time to get the ball rolling for you and your family to avoid what so many went through during the last two years. After many years of helping our clients through the process, we can tell you there is significant peace of mind following checking this to-do off your list. And that the time and effort it takes will be worth it.
If you have never executed a living will or a power of attorney, or never outlined your desires in a will or signed a health care directive, please consider making it a priority before we are all back in the busy-ness that often accompanies the approaching holidays.
If you have completed estate planning in the past, you will need to update your documents if any of the following has occurred in your life:
- You acquired a new home or real estate
- Your marital status has changed and/or your name has changed
- You have had children
- You are leaving home for an extended period for travel or other purposes
- Your financial situation has changed due to retirement, inheritance or another significant financial event
- You have a desire to leave a legacy with your favorite charity or leave certain assets to specific entities or people
We would love the opportunity to guide you through the process. We also urge you to make estate planning a priority sooner rather than later. Regardless of whether the pandemic hit tragically close to you or not, we were all impacted watching the numbers of deaths climb through the months following the initial shut down. Complete our estate planning questionnaire or give us a call to make an appointment to discuss your options further. We look forward to walking the journey with you in taking care of this critical life need, and helping you ensure your family’s stability in the future.
