No one likes thinking about their own mortality, so it’s common to put off estate planning. That being said, protecting your assets and ensuring your wishes are carried out is too important to delay. According to Planned Giving, 45% of adults over the age of 55 have a will. When is the right time to contact an estate planning attorney and get started?

When You Marry a Spouse or Have a Child

As soon as you have a spouse and/or children who depend on you, it's crucial to have a will and a basic estate plan in place. A will ensures your spouse and kids are provided for if something happens to you. It also designates a guardian for minor children. Work with an estate planning attorney to handle these items responsibly.

When You Buy a Home

Purchasing your first home is a major milestone that makes estate planning essential. Make sure you and your spouse both have wills that specify what should happen to the home if one of you passes away. An estate planning attorney can help you protect this valuable asset.

When You Approach Retirement Age

In the decade leading up to retirement, you should meet with an estate planning attorney to make sure your affairs are in order. You want to make big decisions like this while you're mentally and physically well. It's important to update beneficiaries on retirement accounts and insurance policies. Draft healthcare directives for decision-making guidance in case of illness. Name durable powers of attorney and an estate executor.

When You Experience a Major Life Event

Events like marriages, divorces, new children, job changes, or receiving an inheritance all call for revisiting your estate plan. These events alter circumstances, so update documents accordingly with your estate planning attorney. Keeping your plan current prevents unwanted outcomes.

Although end-of-life planning can seem daunting, it’s a gift to your loved ones. If you have a family or assets or are nearing retirement, now is the time to work with an estate planning attorney. They can help ensure you have proper wills, trusts, directives, and beneficiary designations in place. Taking these steps today provides peace of mind for you and your family’s future. Reach out to Hildebrand Law Firm LLC now to get started.