Happy New Year! Here at The Estate Planner, we’re excited to welcome 2023. The New Year is a great time for reflection, planning and (for some) making resolutions. Although making healthier choices frequently tops New Year’s “to do” lists, we’d like to add my favorite resolution to your list: preparing, reviewing or updating your estate plan!
Estate planning is a gift for your loved ones – and everyone needs an estate plan because everyone has an estate. An estate includes anything a person owns—such as homes or other properties, bank accounts, investments, cars, and personal or sentimental items. Preparing for death or an illness is frequently not at the top of anyone’s “to-do” list. But failing to prepare can create a crisis for loved ones during an already emotional and difficult time. An estate plan provides peace of mind by ensuring that your assets and legacy are protected, plans are in place if you become ill, your accounts and property pass according to your wishes, and your loved ones avoid a time consuming and expensive probate process.
And if you have already prepared your estate plan, now is a great time to start an annual review and updating process. Double check your beneficiary designations, make sure your designated “helpers” are still the people you want helping and make updates related to significant life changes, such as the death of a loved one, a divorce, or a new baby.
Call a dedicated estate planning attorney to help you and your loved ones prepare or update your estate plan, trust, will or powers of attorney. Contact our St. Louis office at 314-303-3218 if you’d like assistance with developing a comprehensive estate or elder law plan.
** The choice of a lawyer is an important decision and should not be based solely on advertisements.
Written January 9, 2023 by Stephanie Martinez