A New Year Means It Is Time To Make Sure Your Estate Plan Is In Order

As the hustle and bustle of the holiday season ends, are you ready to begin the New Year with getting organized and forming better habits?  One task that can often be put on the back-burner, but really should be a priority every year, may be creating and/or updating an estate plan. To maximize the potential benefits an estate plan has to offer, it can not only be necessary to put an estate plan in place sooner rather than later, but to also take steps to help ensure your estate plan remains updated to reflect your most current circumstances and goals.  

An estate plan can use a variety of legal tools to address how your assets will be managed and distributed in the event of your death or incapacity, among other things.  As a lot of changes can happen within your family and your finances in a year, it can be important to make sure your estate plan remains effective in not only encapsulating the desired future for you and your loved ones, but also has the best tools in place to accomplish those goals. This means that, when there is a birth, death, divorce, or other life update or changes in laws, you should make a concerted effort to see if your estate plan needs any updates and/or changes.

One useful tool in an estate plan can be a trust. A trust can be a very versatile estate planning vehicle to help protect and distribute your assets. There are a variety of trust types and there are unique benefits to each trust type. The trust that you may choose to create will likely depend on your specific circumstances. 

To help ensure that you are maximizing the many benefits of a strong estate plan, please reach out to our office to schedule a meeting.