Estate planning offers security through wills, trusts, health care directives, and guardianships. Despite these benefits, more than half of Americans do not have one. Many myths and false information can keep people from making an estate plan before they need it, including when is the best time to create a plan. So, when is the best time for you to start making a strong estate plan?
Having a plan in place when you need it
People often think that they only need to begin estate planning when they are nearing retirement when the reality of things is far different. There is no telling what tomorrow may bring for you or what you will need to be ready for it. Because of the uncertainty of the future, now is the best time to create an estate plan.
Proper planning can help you protect your wishes and your loved ones in many ways, such as:
- Creating wills or trusts to appoint beneficiaries
- Develop a health care directive to protect your medical wishes
- Appoint guardians to look after your children or vulnerable adults
When a sudden illness or injury keeps you from being able to act on your own behalf, you want to be sure that your friends and family do not have to guess what to do to help you. An estate plan is the first thing family members look for to uphold your wishes, so be sure that you provide them with something they can use when they need it.
How to get started
Creating an estate plan is not as difficult as you might think it is. If you are looking to develop an estate plan that you can trust to protect your best interests in the future, you are only one step away from starting. Reach out to an experienced estate planning attorney to begin creating a plan that you can count on.