It’s a new year, which means a new chance to do what you’ve been putting off until the time is right – estate planning. That time is now. Here are 5 of the most loving things you can do for the people you love in the New Year because at some point you will become sick or die. I know you don’t like to think about it, bu the best way not to is to plan well. Once you estate plan is in place, you can put it out of your mind and live your life as if every day is your last.
1. Make an estate plan.
Making an estate plan is important so you don’t leave your family to deal with a long, expensive, and costly court proceeding. Getting your estate planning done is important because you keep control over who gets your stuff and who raises your kids.
2. Write a letter or record a video.
Pass on what really matters to your family — your values, insights, stories and experience — in written or recorded form so they can return to you long after you are gone.
3. Pay for and plan your funeral.
Cremated or buried? Ashes or body where? Yes or no to a viewing? Make these decisions now and let your loved ones know, in writing, so they don’t have to wonder. And consider pre-paying for your funeral expenses, so they don’t have to scramble in a time of grief.
4. Plan to pay no taxes.
Will there be taxes on your estate and how will your heirs pay them, if so? Meet with a Personal Legacy Lawyer® to be sure because you’d be surprised how small an estate can be to be at risk for estate taxes or other costs, especially if there’s insurance involved. You don’t have to be rich to think about this.
5. Get organized.
Let loved ones know where they can find your legal documents and other important paperwork. Let your family know where to find the key to your safe deposit box. Document all of the password information to access online accounts, including email, Facebook, and other regularly accessed programs.
In honor of the New Year, we have a special “get organized for your loved ones” special going on. Be one of the first 5 families to get on our calendar in February and we’ll get you organized. Schedule a Life & Legacy Planning Session, do your homework and we will waive our normal $750 planning fee. Contact us today.
