At Solan, Park & Robello, we get it. We know that Estate Planning might not sound like the most exciting thing in the world. Estate Planning, after all, is the process of working with an attorney to create a legally-binding plan for what will happen to your property and belongings (known as your estate) and your remaining money (known as your assets) after you pass away. Even when you’ve realized that it’s not just for the rich and famous, it might get put on the back burner.
Despite that, it should be a top priority for every living adult. If the last two years have taught us anything, it’s that we should expect the unexpected. The whole point of Estate Planning is to protect your loved ones in the event of the unexpected. We all would love to start Estate Planning when we turn ninety years old, but the fact of the matter is that it is so much more effective to start it today. Here are 3 reasons why you should create your Estate Plan right away:
Decide For Yourself
When most people put off Estate Planning, they are imagining doing it themselves later. They aren’t imagining a state Judge doing it for them. If you die without creating an Estate Plan, your estate passes into probate court. In probate, a Judge determines what happens to everything you own - not your loved ones or family. To put the decision back in your own hands, create an Estate Plan as soon as you can.
Protect Young Children
If you are the parent or guardian of young children, Estate Planning is a must. In your Estate Plan, you can pick your chosen guardian who will raise your children if anything to you. This covers if you are in an accident or incapacitated as well as life-long care. Guardianship is another decision that will be made by a Judge if you don’t make it yourself in an Estate Plan.
Plan For Retirement
Estate Planning isn’t just planning for after you’re gone - it’s planning for your own future. If you have a job, you probably have a retirement plan, but when was the last time you actually looked at it? Estate Planning allows you to thoroughly plan for your retirement, as well as make healthcare preparations for later in life.
Get Started Today
When it comes to Estate Planning, the best time to get started is right now! Here’s the best reason of all: it’s not that difficult to do. Estate Planning is accessible to everyone and won’t take too much of your time or money. At Solan, Park & Robello, we believe in caring for your future. To get started on your Estate Planning journey, contact Solan, Park & Robello today!