Give Family Valentines Day Present

Last Saturday, we all celebrated Valentine’s Day with our loved ones. Like other special holidays and birthdays during the year, it is a great time to tell your family members that you love them and how much they mean to you. One of the best Valentine’s gifts that you can give to your spouse, your children, and your other family members is the gift of an up-to-date estate plan, so that, if something ever happened to you, your loved ones will be protected.

I know it is easy to put off preparing these documents. In a way, it is understandable, because no one likes to think about death (especially their own). However, putting off drafting your will, trust, and other estate planning documents until “tomorrow” could be a huge mistake in the event of an untimely death.

This may apply to your parents too. You would be amazed how often an older parent tells their son or daughter that everything has been signed or updated, when the parent has either not done so or forgets to do so. As a result, if it’s your mother or father, I strongly recommend that you make sure that these key documents are in fact completed and signed according to their wishes.

Here Are the Top 5 Reasons to Just Do It

Here are the top 5 reasons why it makes sense to draft or update your estate planning documents now:

1.  To clearly set forth your distribution provisions and not leave your wishes up to the state statutes.
2.  To clearly name the person who will be in charge of making decisions in the event of your death or incapacity and not leave this important decision up to the state statutes.
3.  To reduce the likelihood of a family dispute.
4.  To reduce administrative costs (and in some cases taxes too).
5.  To give you and your family peace of mind, knowing that your wishes are clearly spelled out in your up-to-date estate planning documents.

Most of the time, there is a triggering event that makes people come into my office to draft or update their will or trust. Perhaps it is a cancer diagnosis, the death of a parent, or Altzheimers/dementia issues for a family member. Whatever it is, these triggering events get people to say to themselves, “I have to do something for myself and my family, and I have to do it now.” Hopefully, this blog is the trigger for you or for a loved one to start this process today.

Need help? Please call me today – 602.277.7000

Our firm has helped hundreds of families just like yours handle a wide variety of business planning, estate planning, probate, and elder law issues. When families or business owners are not getting along, we can also handle any disputes and litigation related to their businesses, wills, trusts, guardianships, or conservatorships. Please give me a call, so that I can help you work through these difficult issues with confidence.