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

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.