When should I make an estate plan?

An estate plan can offer benefits to anyone, not just those who are wealthy. The misconceptions surrounding estate planning may be part of what keeps more than half of Americans from having a plan of their own.

Knowing about estate planning can make the difference in whether or not you have an estate plan when you need it. So, when is the best time to make an estate plan?

The benefits of planning

To help understand when you should begin planning, you should first understand what estate planning can offer you. Here are some of the benefits of proper planning:

• Appointing a guardian – you can designate someone you trust to look after your children in the event of your passing.
• Develop a health care directive – you can specify your medical wishes in specific events, like life support duration, what medications and procedures you approve of, and whether you want to be an organ donor.
• Creating a will – you can designate who receives what assets from your estate and eliminate the chances of anyone contesting your wishes and family infighting.

There is no telling what tomorrow may bring, but an estate plan can help you be ready for it, making now the best time to create an estate plan.

Get the help you need in your estate plan

If you are looking to develop an estate plan to protect your best interests in the future, contact an experienced estate planning attorney. They can help you create a plan based on your unique needs that you can count on for years to come.