New Year’s Resolutions
We all do it every year, and it seems as though each year it’s the same resolution: get healthy. That may mean joining the gym, with what seems like 1,000 of your closest friends, or it may mean eating a little bit healthier. For most of us, myself included, these resolutions tend not to last very long. I challenge everyone to a new resolution: create or update your estate plan. This is an easy resolution to keep since all it takes it sitting down and speaking with one of our attorneys and talking about your assets, your goals, and how you can help your loved ones after you pass away.
Estate Planning: Preparation Is Key
I know no one likes to talk about, or think about, death but preparation is key. If you have your affairs in order, then it will be much easier for your family and loved ones to wind up your affairs after you pass away. If you have children, then it is even more critical that you create or update your estate plan to ensure that your children are taken care of after you are gone. This may mean setting up a Trust for your children, or grandchildren, to allow them to receive money at a certain age. This also will mean that you name a Guardian for your child or children. There are many different ways to set up an estate plan, and it is important that you review your options and discuss your thoughts regarding how you want your assets to be distributed upon your death.
You are never too young, or too old, to set up an estate plan and the sooner you put it together (and of course keep it updated) the better you will feel and the better prepared you and your family will be for the future.
The attached checklist and our Personal Information Worksheet are both great tools to begin the process of creating or updating your estate plan. Contact Meghan Donnellon Hyden at (513) 891-7087, or use our contact form, to discuss any questions you have, and let us help create or update your estate plan.