When is the Time to Call an Estate Planning Attorney?

Estate planning is a daunting and reflective step to setting your financial affairs in order, ensuring the protection and support of your family. An ironclad instruction of how you want your wishes to be carried out is the key to making sure that loved ones are financially and legally protected at a time when you may not be able to help them. However, with so much finality (and unpredictability) involved in estate planning, when is the right time to set an appointment with the estate planning attorney, and when is it time to revise? The aim of this article is to provide some insight in the matter.

Firstly, it’s important to understand how imperative estate planning is. When you eventually pass on, regardless of the circumstances there are legal ramifications, probates and a litany of question marks regarding your estate (possessions, investment, money, etc). The aim of estate planning is to sort out these questions beforehand. What are you leaving behind to whom? Can you organize the payment of probate beforehand? Are there any specific requests that you want acknowledged? All of this is addressed and more.

But, when should estate planning begin? Truly, estate planning is ALWAYS a good idea, but especially when certain life events happen that will have a meaningful impact on what you leave behind. Such events can include a range of things, but is usually indicated by a landmark financial event or personal/family event. The following are a few of the most common:

Buying Property – When you purchase a home or new property, the investment is considerable, both financially and legally. The sheer scope of the investment is such that estate planning and will revisions are necessary for any event of property purchase.

Childbirth – The birth of a child is always a joyful moment for a family, representing continuation and future generations. The importance of protecting that future generation becomes evident in estate planning. Using tools like trusts and choosing guardianship, you are able to secure the safety and protection of future generations.

Divorce/Marriage – One of the more rending experiences of the adult life, a divorce can be wrapped up in a thicket of legalese and emotion. On the other hand, marriage means you have another person you want to legally protect. What needs to be set straight is the future. Revise your will after a divorce and marriage to give the benefits of your estate planning to those that need it most.

There is no perfect time to begin estate planning, because adult life is full of times to start, revise and review estate plans and will. It’s best to call a talented estate planning attorney when the idea of protecting the future of loved ones really begins to set in. Estate planning attorneys will help draft your documents and ensure they are carried out to your exact specifics.