On this blog, we often discuss some of the complex challenges and questions people have when they are drafting, enforcing or disputing various parts of an estate plan. While there are countless issues that can come up, we want to encourage readers of this blog not to be intimidated by the process of estate planning.
When you are in the early stages of long-term planning, you should know that you don’t have to tackle every issue right away. You don’t have to solve every problem or make every decision in your first pass at the process.
When you first start thinking about estate planning, you can start with the big picture. You can assign power of attorney, make some decisions about your general medical care preferences and start thinking about the assets you have.
Over time, you might decide to start funding a trust, write a more comprehensive will or make adjustments that take advantage of certain tax breaks. You might decide to make charitable gifts or create contracts to transfer ownership of your business in the event that you retire or pass away.
But these are not necessarily matters that you will need to flesh out and solidify right away. You can change and update your estate plan over time.
You don’t have to put off the first step of talking to an attorney until you have all the answers. Attorneys like those at our firm have the experience and knowledge to help people make decisions about their future, and we know that it doesn’t always come together at once.
Before you decide to put off your estate planning yet again, we encourage you to start by making small decisions and exploring the big picture. You can also visit our website to learn more about our firm and how to contact us to get started on your estate plan. It doesn’t have to be all or nothing, but you should start somewhere.