Many people think that their will is their estate plan. To be fair, the will is an incredibly important part of the estate plan. But that is all it is: a part. It is not your entire estate plan. Their are trusts and powers of attorney and guardianships to consider, as well as health care directives and instructions for elder care when you get older. There are many facets to any estate plan, so don’t think that you are “good” just because you wrote a will.
There is another important aspect to estate plans that has nothing to do with the documents and contracts contained within an estate plan: and that is motivation and awareness. See, many people think that an estate plan is something you craft when you are much older. But this simply isn’t true.
You can craft your estate plan at any age, and really, it is better to start earlier than later. Not only will you have a better sense for the process, but you will also ensure that your assets are protected as early in your life as possible. If you wait, you risk having your assets unprotected in case of an emergency or tragedy.
To ensure that your estate is properly protected and to make sure that you have planned for the later stages in your life and the way your assets will be handled when you pass away, you should consult with an attorney. Connors and Sullivan is an experienced law firm that can help anyone with their biggest questions about their will, their trusts, and their entire estate plan.