Summer is as good of a time as any to sit down and make sure your affairs are in order. Whether attending a summer wedding, taking international vacations, or welcoming a new grandbaby, you will always benefit from an up-to-date estate plan.
5 Reasons for Estate Planning
1.More Time and Less Stress
Summer is more laid back. People are on vacation, so work deadlines are typically more flexible. Kids are out of school, so you do not have to chauffeur children back and forth to school and activities. Take the extra time to meet with a lawyer and draw up a comprehensive estate plan.
2. Enhanced Peace of Mind
Once your estate plan is complete, you can sit back and enjoy your summer without worrying about what might happen if you were to pass away. Your family will be cared for under the guidance of your estate plan.
3. Avoid Potential Delays
Take your time to make the necessary arrangements during the summer. When you are not on a time crunch to meet an end-of-year deadline, you do not have to worry about holidays, court schedules, or your attorney’s availability. Get a head start on your estate plan during the summer to have it finalized before year-end.
4. Protect Your Vacation Time
Iron out the details of your estate plan before you leave on vacation. Then you can enjoy your vacation without external worries. Your loved ones will feel a sense of peace knowing you made arrangements and have instructions for them if you were to become ill or incapacitated while away. A medical and financial power of attorney will be named in your estate plan, and those people can be ready to make decisions on your behalf.
5. Financial and Tax Considerations
Update your estate plan to remain current with tax laws, including benefits that come from creating a trust for your assets. If you have any changes in asset values, your estate plan should reflect that. When you partner with a skilled estate lawyer, you can maximize tax benefits through estate planning.
While estate planning may not be the most exciting summer activity, it is undoubtedly one of the most important tasks you can undertake. Stop putting it off, and get started today.
Contact Shoup Legal
At Shoup Legal, we understand the significance of estate planning and the peace of mind it brings. Our experienced team is here to help guide you through the process and ensure your wishes are respected. Contact us today at (951) 445-4114 or email us at [email protected] to learn more about our comprehensive estate planning services.