We’re well into the new year now, and many of our readers may be successfully moving through their list of goals that they want to accomplish in 2024. Hopefully, some Indiana residents have estate planning on their list of goals to complete for the new year. If that’s you, there’s no time like the present to get started.
Helpful hints
Of course, addressing estate planning needs might not be as exciting of a goal as, say, saving up for a vacation or getting fit in time for summer, but it is a crucial goal nonetheless.
If you already have an estate plan in place, great – but, as a recent news article mentioned, you should probably review it again to make sure that any needed updates are made. Most people in the estate planning world recommend at least an annual review of estate plans. The start of a new year is a good time to check that task off of your list.
For those who are just now getting around to researching their estate planning needs, the recent news article mentioned a few areas that shouldn’t be forgotten. One is making sure that you have a plan in place in case of a loss of mental capacity or if you should become incapacitated.
We can’t plan for everything, but with the proper power of attorney documents in place you can have a trusted individual named to make decisions on your behalf. Don’t overlook these documents as part of a comprehensive estate plan.
In the end, your estate plan will be unique to your family and financial situation. If you are updating your plan or just getting started, be sure to get the right information for your needs and goals.