Estate planning is not necessarily an enjoyable topic to consider. Ultimately, you put an estate plan in place in anticipation of an incapacitating or fatal injury or illness, and this is nothing we like to think about. However, waiting to address estate planning issues can be a huge mistake, and it can impact your family and their futures. The time to create or review your estate plan is now.

Creating Your Estate Plan

Many people think they are too young or do not have enough money to warrant creating an estate plan. However, there are many different purposes of an estate plan you might not consider, such as:

These objectives of an estate plan are important despite your age or wealth level. Imagine the following scenarios:

You can avoid the above situations – and many more – by having a comprehensive estate plan in place.

Reviewing an Existing Estate Plan

Once you have an estate plan, it is all too easy to forget about it and assume you are covered for the rest of your life. However, many life events and changes can render an estate plan inappropriate or even ineffective. The following are certain times you should review your estate plan:

Reviewing your estate plan regularly with an estate planning lawyer can ensure that you, your family, and your property all have maximum protection should the unexpected happen. It is easy to put off estate planning or make excuses why you might not need a plan, but the reality is that now is the time to create or review your estate plan with your attorney.