Why Getting Your Estate Plan In Order Is A Worthy New Year’s Resolution

As the calendar turns to a new year, many of us make resolutions to improve our lives. While health, career, and personal development goals often take center stage, one often-overlooked resolution is just as vital: creating or updating your estate plan. Here’s why getting your estate plan in order should top your list this year.

1. Peace of Mind for You and Your Loved Ones

Life is unpredictable, and having a comprehensive estate plan ensures that your wishes are carried out, no matter what the future holds. This peace of mind extends to your loved ones as well, sparing them from unnecessary stress or uncertainty during challenging times. By resolving to create or update your estate plan, you’re taking a proactive step to protect their emotional and financial well-being.

2. Protect Your Assets and Legacy

An estate plan isn’t just about distributing your assets; it’s about preserving your legacy. Whether it’s your home, savings, investments, or sentimental items, an estate plan ensures your assets are passed on according to your wishes. Without one, state laws dictate how your property is divided, which might not align with your intentions. Make 2025 the year you take control of your legacy. And while you’re at it, once established, discuss your plan with your family!

3. Plan for the Unexpected

An estate plan does more than address end-of-life matters. It includes essential components like a power of attorney and healthcare directive, which guide decisions if you become incapacitated. These documents provide clarity and direction for your loved ones, ensuring that your preferences are respected even if you can’t communicate them.

4. Save Money and Reduce Stress

A well-constructed estate plan can minimize estate taxes, legal fees, and potential disputes among family members. By addressing these issues now, you save money and reduce the risk of conflict in the future. This financial foresight is a gift to yourself and your heirs.

5. Take Advantage of a Fresh Start

The new year symbolizes fresh beginnings and is an ideal time to tackle important but often delayed tasks. Setting up your estate plan now ensures that this critical matter doesn’t linger unresolved. It’s a resolution that benefits both you and your loved ones for years to come.

Contact SW&L

If you or a loved one is in need of an estate plan or wants an attorney to review an existing estate plan,  please contact us!

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