As we celebrate the holidays, and look to the New Year, we often gather with family. There’s something about hanging that fresh, new, blank slate calendar that gives us a feeling of space and time to do anything we choose. Then we cross that magical line to January first, and life continues to come at us with the same speed and velocity and time starts to get away from us again.
We encourage you to take advantage of the holiday season to think about your family. Time passes quickly, and before you know it, that 1st grader is in high school, and then off to college, or starting their own family. As young adults transition into whatever their futures may hold, consider that the unexpected could derail plans with little or no warning. Planning is the key to peace of mind.
When we discuss planning with young adults, we often hear “why do I need a Will, I don’t own anything!” But remember that estate planning is not just about the “estate” … it’s also about the “planning”. Planning for the unexpected. Planning for a crisis. Planning for an accident. Planning for all the “what ifs” that may come our way.
While having a Last Will & Testament is always a good idea, other planning documents are often more important in the real world of your life. Naming a Health Care Proxy, or Power of Attorney can be a vital element to a comprehensive plan. Anyone over the age of 18 should have these documents in place, so that decisions can be made and action taken in the event of an emergency or unforeseen illness.
It only takes a few minutes to talk to your family and remind them that each and every adult should have a basic estate plan in place so that you can all rest easier.
If you would like to give the gift of estate planning to your family this holiday season, let us know. We're happy to help discuss your family goals. Just fill out this form to let us know and we'll be in touch.