Estate Planning in Autumn: why the fall season is the perfect time to plan your estate
Beat the Xmas rush, forget about Black Friday and avoid the New Year’s hangover when it comes to planning your estate ! For those that have been meaning to get your estate plan in place, but have been putting it off, here’s why the next 45 days are crucial to your family and your money. So, as we get ready to set the clocks back and as the sunsets arrive earlier than expected, here’s some insight and motivation to get your estate plan in place.
Why Fall is a Great Time to Plan Your Estate
- After new year, you’re focussed on losing weight, new year’s resolutions and getting back into the gym. Most of the time and energy is spent in January and February handling personal, non financial goals. Or planning a trip to sunny Florida or the Carribean. Wills and trusts are not at the front of your mind.
- March and April are tax time and your lawyers and accountants are busy with 1040’s, return preparation, and seeking extensions. They don’t have time for you.
- By October, summer is over and the kids are back in school, so get going before Xmas and the holidays arrive in late December. Now is the perfect time to focus on estate planning.
- October and November are the chance to finish the year strong: with a solid estate plan that provides for the protection of your loved ones, family members and beneficiaries. So, call your probate lawyer or tax lawyer, and set up an appointment. Review your existing estate plan first, or set pen to paper about what you think you want.
- Xmas and the December holidays are too busy, and, for some, too hectic. Although many people do travel for Thanksgiving, most are home or close to home, and if they are not, family is DEFINITELY on their mind.
- Did you create that family trust you wanted?
- Set up education funds for the grandkids?
- Coordinate your will and your revocable living trust?
- Are the beneficiaries correct on your old life insurance policies or did you finally move them into a life insurance trust?
Pour a hot cup of coffee or tea, hear the wind whistling down the block as the leaves change color….. and get your family some financial certainty and security with a completed and up to date estate plan.