Give Your Family the Gift of Peace of Mind This Holiday Season
The holidays are a time for gathering with the people we love most, which makes it the perfect season to think about how we protect them. Estate planning is not always the most festive topic, but few things say “I care about you” more clearly than making sure your family is taken care of no matter what the future holds.
If you have been putting off creating an estate plan, now is a great time to start. A well prepared plan ensures your wishes are carried out, names the people you trust to make decisions if you cannot, and can help your family avoid the cost, delay, and stress of probate. For parents of young children, it is also where you name a guardian, one of the most important decisions you will ever make.
If you already have a plan, the end of the year is a natural time to review it. Have you married, divorced, welcomed a new child or grandchild, bought a home, or started or sold a business? Have your feelings changed about who should serve as your trustee or guardian? Even small changes in your life can mean your documents no longer reflect your wishes. It is also a good moment to confirm that your accounts are properly titled in your trust and that your beneficiary designations are up to date.
Holiday travel is another reminder. Before you head out to visit family, it helps to know your powers of attorney and health care directives are in place and that someone you trust knows where to find them.
And if your family will be together this season, consider it an opportunity for a simple conversation. Your loved ones do not need to know every detail, but letting them know a plan exists and who to contact can make a difficult time much easier for them later.
If you would like to get started or review your current plan before the new year, please reach out. We would be happy to help.
Lynn Girvin Law, P.C. assists individuals and families throughout Orange County with estate planning, revocable trusts, wills, incapacity planning and trust administration.
