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Is Estate Planning On Your To-Do List for 2017?

1/30/2017

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Is estate planning on your to-do list this year (or the last few years) but you haven’t gotten around to it? Now is the time!
 
Many of us have goals of what we want to accomplish in life and I’m sure the most important ones are centered around our family and their future.
 
We can easily set aside the estate planning process because it’s a difficult topic to think about and plan for. But it can be one of the best things you can do to protect your loved ones, your health, and your money.
 
To get estate planning off your to-do list, here are some things to get started with:

Consider your children
 - Estate planning helps you protect your children throughout their lifetimes. 
  • When they’re young, they will need a guardian should something happen to you.
  • When they’re older, you want to have the financial capacity to send them off to college.
  • When you have passed away, you want them to enjoy a legacy that includes passing on your values as well as your assets.

​Consider your health
  • If you become incapacitated, who will talk to medical personnel and make the health care decisions for you?  
  • Do you want your life to be prolonged by life support no matter what?
  • Whatever your wishes are, they may not be followed unless you have an Advance Health Care Directive that addresses these matters.

Review beneficiary designations
  • Life insurance policies, retirement accounts, investment accounts and other financial vehicles require a beneficiary form for you to designate who will receive the assets upon your death.
  • With no form, the State will have a plan for you and your assets may go to those you never intended to receive them.
  • Make sure to review them annually.

Make it a priority to accomplish your goals and have a plan in place or update your estate if needed. A well-thought out plan is an invaluable gift that keeps on giving to you and your family. 
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Happy Martin Luther King, Jr. Day!

1/16/2017

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 "You don't have to see the whole staircase; just take the first step." ~Martin Luther King, Jr. 

Planning for the future can be quite overwhelming. It's hard to see the future and plan exactly what will take place in case something happens to you. And this could possibly be holding you back from planning your future. But just taking that first step will make it easier and worthwhile as things fall into place, questions get answered and the burden will become lighter as you have a peace of mind that your loved ones will be taken care of.



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    About the Author

    Christine Chung, Esq.
    christine@christinechunglaw.com
    949.529.1480

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  • Home
  • About Us
    • Our Philosophy
    • Our Planning Process
    • Our Fees
  • Attorney
  • Virtual Services
  • Practice Areas
    • Estate Planning
    • Probate Administration
    • Trust Administration
  • Blog
  • FAQ
    • Estate Planning
    • Probate
    • Trust Administration
  • Contact Us