6 Reasons To Create Your Estate Plan Right Now

6 Reasons To Create Your Estate Plan Right Now

After a year full of uncertainty, there has never been a better time to plan for the future. Creating an Estate Plan can make sure your wishes are clearly understood. Your plan can be kept private, safely on file with your attorney, for as long as you decide. Here are 6 reasons to give yourself the gift of an Estate Plan and ensure a bright future for your family.

1. The Future is Unknown

We live in unprecedented times. Many were caught off-guard when we experienced one of the first major global pandemics that has killed nearly two million people worldwide. This makes it clearer than ever before; we can never foresee what’s going to happen in the future, so it’s always best to make sure to have a plan in place at all times. 

2. Time is Valuable – an Estate Plan Helps Save Time

Preparing your Estate Plan with an experienced attorney will save you time. Our process is straightforward and all of your questions can be answered promptly, leaving you more time to make decisions rather than spending hours researching proper documentation, language, and legal requirements. Having an Estate Plan prepared now will also save valuable time for those you love down the road. Probate can be time-consuming, but it doesn’t have to be.  With a comprehensive plan in place, the process of naming a Personal Representative, opening, managing and closing an Estate can be streamlined from start to finish.

3. Your Wishes Matter – an Estate Plan Makes Them Clear

A Healthcare Directive – also known as a Living Will – is an essential part of a comprehensive Estate Plan. This document makes your wishes for different levels of life-saving healthcare 100% clear. It also directs a specific person to be responsible for carrying out your wishes if you are unable to do so yourself.  Should you be unexpectedly gravely injured or become very ill, your Living Will comes into effect. This simple document can allow your family to focus on what is most important, rather than having to make healthcare decisions that are most often quite painful for any loved one to make. 

4. Unburden Your Loved Ones

With an Estate Plan in place, one of the documents included is a Funeral and Burial Letter. This document assures that your family won’t have to go through the painful process of having to guess what type of memorial service you’d prefer. You can help your loved ones avoid discussions or disagreements over burial/cremation, headstone epitaph, obituary, religious services, location of such services, and even songs or readings you’d like included. When you make these choices ahead of time, your loved ones won’t have the burden of making these hard decisions while grieving.

5. Avoid Family Strife – an Estate Plan Calms the Waters

One of the most disheartening things that nearly all civil lawyers encounter is brutal, long-lasting disputes for assets left by their deceased loved ones. These quarrels frequently occur when there was no Will or comprehensive Estate Plan in place. Sadly, some families are irreparably following intense disputes over inheritance. It’s always better to make your wishes completely explicit and clear to avoid family strife that is, unfortunately, rather common. A Will prepared by an experienced attorney will help avoid confusion and uncertainty surrounding asset distribution. 

6. Peace of Mind – an Estate Plan is a Gift

Once you’ve successfully created your Estate Plan with an attorney, it will remain viable for as long as you choose. There’s no need to worry about it becoming lost or forgotten, as our firm will keep a signed copy on file in perpetuity. Your plan can be amended as many times as necessary – usually to reflect major life changes like a new child – but will never “expire” in New Mexico as long as you remain a resident. This means that you can rest assured that your Estate Plan will always be ready when needed, even if something happens unexpectedly or suddenly. And of course, as your life circumstances change, you can always completely re-create your plan from the ground up anytime in the future that you decide. Creating an Estate Plan with an attorney now, before the presence of haste or worry, is truly giving yourself and your family the gift of some well-deserved peace of mind.

The Law Offices of Erika E. Anderson

Do you need to create an estate plan for yourself or a member of your family? The Law Offices of Erika E. Anderson assists individuals with estate planning documents, including a Last Will and Testament, Durable Power of Attorney, Funeral and Burial Letter, and Health Care Directives for individuals across New Mexico.

Erika takes time to get to know and understand her client’s financial situation, as well as her client’s future goals for those assets. The team at the Law Offices of Erika E. Anderson understands the correct steps required in the creation of an estate plan that reduces the possibility of disputes arising in the future. Erika uses concise language to ensure that all potential misinterpretation aspects are covered.

Click the following links to learn more about our firm, individual staff members, and the passionate attorneys of the Law Offices of Erika. E. Anderson.