Darald Schaffer appears on Let’s Chatt and discusses the three most important tips for Estate Planning.
1. Don’t Procrastinate on Estate Planning!
It’s normal to procrastinate on coming up with an estate plan but it’s important to have a Will for your future. Having a Will helps the courts determine how an estate is distributed, should something happen.
If a person has children, estate planning becomes even more important. A Will can not only provide instructions on guardianship for children, it can set up trust provisions to ensure kids are adequately taken care of and provided for.
2. Update Estate Plans Every Two Years
Any change in life should cause a visit to an estate planning attorney. This includes family members passing away, big purchases, divorce situations, remarriage or even kids getting older. There can be unintended consequences by not looking at the whole estate as things change. As a general rule, speak to an estate planning attorney every 2 years to make sure the Will is exactly how you want it and the trustees and executors are up to date.
3. Get Started Now
Wondering how to get started on an estate plan? We recommend seeing an estate planning attorney. At Wooden Law Firm, we sit down and look at each family’s situation and season of life so that we can take a global perspective of their estate. From there, we help come up with a detailed plan that covers everything.
Contact Wooden Law Firm, P.C. today to learn more!