The Holidays Are A Good Time to Plan, Protect and Provide

During the holiday season, it is appropriate to reflect upon our many blessings: family, material resources, and abundant opportunities available only in America. In the midst of celebrating family and the holidays, take the opportunity to create or review your estate plan and talk it over with your family. You have so much to protect.

According to a 2016 CBS Boston article "Our Families: The Important Papers", one of the best gifts you can give is to make sure your financial and legal affairs are in order and that the people you love and trust the most know what to do in the event of the unspeakable happening. Although it is unpleasant to think about, the number of deaths actually spikes during the holidays. Don’t let poor planning and procrastination rob you of the security you desire.

So, what should you do?

Get Organized!

  • Gather all of your important financial and legal papers, organize and secure them in a secure location such as a fire-proof safe or an online “digital safe.”
  • Create a list of important people and their contact information.
  • Then create a list of where these important documents can be found when needed and share this information with the people you trust the most. Having someone in your life who can access those papers is vital no matter your circumstances or stage of life.

Ensure Your Wishes Will Be Followed in Your Estate Plan

  • If you don’t have a will or trust, or a guardian contingency for your children, the state will be making decisions for you. On the other hand, you can ensure that if you become disabled or die then your decision-makers will have the full authority, they need to handle your affairs and to access much-needed funds without encountering costly and lengthy court proceedings. You can also utilize sophisticated strategies to avoid wiping out your life savings to pay for long-term care.

Meet with an experienced estate planning and elder law attorney to get a will or trust tailored to your needs and desires.

  • Choose backup parents to be the legal guardians for your children.
  • If your existing will or trust was made more than three years ago, have it reviewed by an attorney to ensure it still meets your objectives.

Plan Your Legacy

If you have children, they can learn much from you or about who you are by the plans you put in place to avoid chaos and crisis. Memorializing your legacy is one of the most important parts of your estate plan. Go beyond the traditional financial and legal aspects of your estate plan and give the gift of a legacy video or letter – your own words and insights that your family can look back on and cherish forever.

Remember, no one loves your family as you do to make sure that your wishes are known and will be legally enforced. Engage a competent legal professional specializing in these areas.

For more information about estate planning, elder law and asset protection for your family, contact the Wesolick Law Firm for a no-obligation consultation or attend one of our monthly workshops.

Wishing you a joy-filled, safe and abundant holiday season!

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We have a wealth of experience in Wills, Living Trusts, Geriatric Care Planning and Estate Planning.

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