“There are basic elements that are essential to financial life as an adult.”
Some of the basics we all need to have are a budget, a bank account, insurance and an estate plan. This last one shouldn’t be delayed until your 50s, 60s or later, says The Huffington Post in its article “Why Estate Planning Makes Sense at Any Age”
An estate plan is essential no matter what your financial situation or age.
Sure it’s easy to not think about taking steps for estate planning. In fact, a recent ABC News poll found that only about 50% of Americans have created a will. Fewer still have created supporting estate documents.
Having a plan can help bring you peace, get you on the road to stronger financial security, and help those about whom you care most.
Estate planning can be a holistic process to set your finances on a much more successful track for the rest of your life. Proper planning is about creating and maintaining good financial behavior.
The estate planning process isn’t supposed to be a “set it and forget it” process. When your life changes in a significant way, that’s a reminder to review both your financial and estate plans to make sure you’re still on course. Estate and financial planning need to be connected.
How do you begin an estate plan? Of course, there are a lot of carefully drawn documents involved. But it’s the planning behind them that really makes it work.
Speak with a qualified estate planning attorney soon to make certain your plans fit your needs and those of your loved ones.
Sadly, much of what passes for estate planning today is little more than word processing. Someone asks a few questions and then fits you into their pre-defined box. This isn’t planning – This is simply document preparation. Don’t settle for word processing in place of quality planning!
At Idaho Estate Planning we will take time to get to know you, your family, your desires, your concerns, your goals, and any potential future problems. Your estate plan should be a custom fit not a “one size fits all”. Remember, good planning is no accident.