When Is It A Good Time To Think About Estate Planning?
Many people, particularly younger people, do not give much thought to estate planning. If they do, they only think of it in the context of who will inherit their assets after they are gone. The fact is, estate planning involves a lot more than the creation of a simple will.
A comprehensive estate plan will not only allow you to name your heirs, but can also provide instructions on who should make decisions for you should you ever become incapacitated. So, when is it a good time to think about estate planning? The answer is there is no better time than right now.
At the law office of J. Jeffrey Press, P.A., our attorneys help individuals and families create customized estate plans. Please call us at 973-323-2654 to schedule an initial consultation. From our office in Parsippany, we serve clients throughout northern New Jersey.
Planning For Your Family’s Future
An estate plan can be thought of as a type of insurance policy. Hopefully, you will never have to make use of it, but it can provide you with the peace of mind that comes with knowing that your wishes will be carried out as you see fit. The best time to put together an estate plan is when you are still relatively young and of sound mind. Many people choose to start thinking about their estate plan after they have married or when they have started a family. An estate plan can address many different topics, including:
- Who will care for your children should you unexpectedly pass away or become incapacitated
- The types of medical decisions that should be made on your behalf should you become incapacitated
- The creation of a trust for minor children so that they may claim an inheritance before the age of 18
- The avoidance of particularly harsh tax consequences for your family
- Avoiding family disputes over an inheritance
Our lawyers can help guide you through this process, identifying your needs and goals along the way. If your situation ever changes or if you decide to rethink your initial decisions, we can also help update your estate plan to better reflect where you are now.
Contact Our Estate Planning Attorneys
There are countless stories of the headaches and family disputes that occur when a person does not have an estate plan in place. We can help provide you and your loved ones with peace of mind. To schedule a consultation, please call our office or contact us online.