TheTimesHerald.com published an article by Matthew Wallace entitled, "New Year's Resolution: Plan to Plan" (Jan 2, 2017). Provided below is a brief summary of the article published at TheTimesHerald.com:
New Year’s Resolution: Plan to Plan
With the New Year, many plan their new years resolution whether it is to stay healthy and fit, loose weight, or spend more time with family. All these focus upon you while you are alive and well, have you thought about when you are not so well?
A properly drafted estate plan keeps you in control while you are alive and well, plans for you and your loved ones in the event of your mental disability, and after you are gone, gives what you have to whom you want, when you want, the way you want, and if you can, you want to save taxes, fees and costs, all at the lowest predictable overall cost to you and those you love.
Once you have an estate plan in place, it should be kept updated. Just like you should have an annual health check-up, you should have an annual estate plan check-up. The proper updating and funding of your trust is critical in making your estate plan work and having the results you intend. Failure to properly update your estate plan or keep your trust properly funded may cause unintended results.
For your new year's resolution, if you do not have an estate plan, resolve to do one. If you do have an estate plan, resolve to have it updated…
To find out more information on this topic, please continue to read the full article “New Year's Resolution: Plan to Plan” from TheTimesHerald.com