More than 50% of American adults do not have an Estate Plan or Will in place for themselves. Many people think that they do not need one if they don’t have a family, enough assets, or maybe that there will be time to do it later. If these thoughts have crossed your mind, you really should reconsider! The best time to prepare for tomorrow is today.
Everyone everywhere should have their Estate Plan in place. Keeping your Estate up to date is one of the most important things anyone can do for their loved ones. Even if you don’t have any assets to your name, Powers of Attorney (part of your Estate Plan) allow you to determine who will make medical and financial decisions on your behalf if you are unable to do so for yourself. In those difficult circumstances, having an Estate Plan set up will expedite the decisions being made and greatly reduce the pain and stress of the situation on your loved ones.
If you already have an Estate Plan in place, it might be a good idea to review your documents annually to make sure they are still up to date. There are some specific times when checking your documents is particularly important, though. Some such times may include an unexpected death or disability, change in marital or economic status, and changes in your primary residence or state or federal laws, to name a few.
If you’ve never had an Estate Plan, or need to review your old documents, the professionals at Skinner & Associates serve clients all over Central Ohio. We cover several areas of law including estate planning and pride ourselves on our compassionate and effective legal services. Contact Skinner & Associates Attorneys at Law for a no-obligation, free consultation at (614) 664-0200 or visit our website for more information.
Sources:
- https://www.legalzoom.com
- https://resources.lawinfo.com
- https://www.estateplanning.com
- https://money.usnews.com
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