Estate planning is the process of outlining how you want your estate (assets and money) distributed when are no longer on this earth . It's essentially a guide that provides your family with the necessary steps to ensure all of your wishes are taken care of. An estate plan can include everything from drafting a will and naming beneficiaries in life insurance policies, to setting up powers of attorney, and this list is by no means exhaustive.
Who Should Visit an Estate Planner?
Estate planning is necessary for everyone, regardless of age, income level, or asset size. Whether you're recently married, expecting a child, recently divorced, retired, healthy, or sick, it's important to visit an estate attorney skilled in probate law as soon as possible.
How Long Does Estate Planning Take?
Every estate plan is unique, so the time needed to complete it will vary depending on your circumstances.
When Should You Begin?
The answer is simple, start as soon as possible! Estate planning can be a complex and time-consuming process. So the sooner you start visiting an estate attorney to map out your plan, the better. Additionally, it's important to review your plan periodically throughout life. Changes in circumstances can have a significant impact on how you decide to distribute your estate.
Estate planning is an important process that should be taken seriously and started as soon as possible. The right estate planner can help ensure your wishes are honored after death. When it comes to estate planning, don't wait. Contact our team at McFarlane and Partners for more information.