The start of the New Year is the perfect time to start thinking about estate planning…
As the holidays fade into memory and another year passes, we at Streeter Law Group cannot help but to reflect. After all, at one time or another, we were little girls or boys, sitting at the dinner table, getting picked on by a favorite aunt or uncle.
And as we aged, we saw more seats added to the holiday table as our families grew. Sadly we also watched a few seats become vacant as well.
We saw our bigger siblings get older and our smaller siblings become not so small.
And we watched ourselves slowly take the place of our parents, and our parents take the place of our grandparents, and our grandparents take the place of our great grandparents.
The beauty of it all is that something changes every year without fail, which is why the start of the New Year is the perfect time to take inventory of our lives and to give consideration to estate planning.
If you happen to be that person who was once seated at the kids table, now grown up with kids of your own, you should consider having an estate plan drafted. If for no other reason than to legally choose your children’s godparents or make certain your spouse inherits everything should something happen to you.
Or if you are parents who’ve transitioned into grandparents and you already have an estate plan, now is the perfect time to give consideration to whether updating is needed. …Especially if your babies have had babies of their own. In which case, you might want to consider adjusting beneficiaries.
As for our experienced grandparents potentially transitioning into great grandparents… Hopefully by now you have an estate plan. Even so, now is a great time to reflect on your health and your wants.
Are you for example worried about your or your spouse’s mental capacity? Do you or will you need Medi-cal benefits? Are you or will you need to move into a nursing facility? If so, wouldn’t you like to protect your own estate and monies from unnecessary costs attributed to receiving such care or benefits?
Whichever group you fit in to – wherever you sit at the holiday table, there is room for reflection and consideration.
The start of a new year is a natural time for looking back and planning ahead. When better to give thought to your estate planning needs?
