3 Estate Planning Resolutions For 2022

The New Year is a great time to reflect on everything that changed in your life over the last twelve months and where you want to go from here. It is also a great time to check in on something directly related to your life – your Estate Plan. An Estate Plan is a legally-binding plan created with the help of an attorney that dictates what you want to happen to your remaining property, belongings, and money after you pass away.

There’s a lot more to Estate Planning than just passing along money, however. If you haven’t dived into it yet, there’s no better time than right now. Here are the 3 Estate Planning Resolutions that you should follow in 2022:

Build a Strong Foundation

Creating an Estate Plan puts decisions regarding your legacy and estate into your own hands. If someone passes away without creating an Estate Plan, their estate passes into probate court. In probate, a state Judge will make those same decisions for you. If you have not already created an Estate Plan, it’s important to have one in place. It is easier and quicker to accomplish than you might expect.

Put It in a Trust

Most people think of Wills when they think of Estate Planning. However, Trusts are another great option. A Trust is a fund that is managed by a third party and funded by you throughout your lifetime. When you pass away, the Trust transfers to someone of your choosing, immediately and without entering probate. There are all kinds of Trusts designed to accomplish all kinds of purposes.

Set a Guardian

You can use your Estate Plan for a lot more than just passing along money. One of the most important aspects is the ability to establish guardianship. If you have minor-aged children, you can choose who will raise them in the event of an emergency and put it into your Estate Plan. This is another decision that will be made in court without your input if you do not make an Estate Plan. You can also establish a guardian for yourself later in life.

Get the Help You Need

Estate Planning is all about protecting your loved ones and your legacy. Are you ready to stop procrastinating and cross it off of your To Do List? To get the help you need anywhere on your Estate Planning journey, contact the Law Offices of Ray Garcia, P.A. today! We are here to help!