When the ball dropped at midnight, most Americans made a resolution. Some made a silent, personal vow to better their lives: to fix a troubled relationship or to get out of debt. Others said it aloud, proclaiming a desired weight loss or the completion of a home renovation project. Whatever the resolution, odds are good that it involves money, family or both.
As we make adjustments in the new year, updating the estate plan is often overlooked. If there’s a relationship or job change in your family, it’s likely that you should tweak your plan to reflect your new life.
Maybe, like over half of Americans, you don’t have an estate plan at all. Setting one up is a resolution that can’t wait until 2018.
How to plan your estate
While the internet is useful for basic research, a consultation with an attorney is the best way to meet your own needs and to make sure that your documents are clear, indisputable and binding.
As you’re working toward your 2017 resolution, remember that spirit of self-reflection and big picture mastery over your life. It’s never too early to create an estate plan and they can be updated at any time. The important thing is knowing you’ve created a plan that matches your wishes and reflects your intention, giving not only internal peace of mind, but security for your loved ones in the process.