2020 was a very unusual year, and if it taught us anything it is that we should always be prepared for the worst. The best way to start the new year off right is by resolving to create an estate plan! It may sound grim, but it truly is a great way to gain peace of mind by knowing your loved ones will need not worry about resolving your estate after you pass or if you suffer an injury that leaves you unable to make decisions on your own behalf. This article encourages
everyone to consider this not-so-traditional New Year’s resolution.
By doing this now, while you are alive and well, you are able to plan and consider the total picture and have full control of how your assets are distributed. Begin by first itemizing your assets and listing any liabilities. Gather any important documents, such as tax returns, real estate records, and insurance policies, and place them in a secure location.
There are some more difficult things you may need to consider while planning your estate, such as who will provide for your children and/or spouse, who would take care of your business, and more. While these may be uncomfortable topics of discussion, it’s important to address these issues now while you may still make your wishes known rather than leaving it to the state.
If you are ready to start the new year on the right foot, let Rhodes Law Firm help you today.