21st Oct 2022
The United States House of Representatives has designated the Third Week of October as “National Estate Planning Awareness Week.” You can read the whole text of the resolution here, which contains some good information and thoughts.
There are lots of reasons to consider an estate plan at this time – or any time of year. But here are 4 Big Reasons to consider:
1. You Will Need Help at Some Point
You may need help making medical decisions when your body or mind is no longer able. You may need help with end of life care. Even if not during life, we will all need someone to help with the property, debt, and other affairs we leave behind at death. Why not plan this out?
2. Others Need Your Help
Setting up a plan helps those you leave behind to deal with your property, debt, and other affairs. This is especially true if you have children or a spouse or other who truly depend on you for basics.
3. Our Life’s Work is Important
The things we build are important. The things we spend our lives on are important. Yes, of course things like businesses or investments. But also things like families and communities. Also things like collections and priorities. You can leave things that are important to you, help people that are important to you, and even do things like pass down priorities that are important to you – much better with a plan than no plan.
4. Failing to Plan Can Lead To Bad Consequences
On occasion, things will work out okay for a person with no plan. Other times, they can have dramatic consequences, from excluding important people, to needless taxes, to more fights and Court actions during and after life.
For example, I have written about 5 important things that do NOT happen without a Will or other planning here if you want to read more.
If these reasons resonate with you. Or you have some other issues that have been on your mind. Reach out to me directly at CoryHicks@FieldAndHicks.com.