Resolve to Create an Estate Plan in 2017

estate plan, Naperville estate planning lawyerIf you pick up a magazine or browse any website that allows users to express their opinions, you may have heard that, according to many, 2016 was the worst year ever. For some, the last 12 months have been very difficult on a personal level, but most others are just using hyperbole to express their feelings regarding the natural disasters, tragedies, election results, and examples of intolerance and cultural division that have occurred this year. Of course, the seemingly endless list of celebrities that passed away in 2016 has propelled the “worst year ever” discussion even further.

While some of the famous people who died in 2016 were relatively older—actor George Kennedy was 91, golf legend Arnold Palmer was 87, and boxer Muhammad Ali was 74—many were much younger. Singer George Michael was only 53 and extreme sports figure Dave Mirra was just 41. While certainly tragic to friends and loved ones, the unexpected deaths of so many public personalities should serve as a reminder that the time to prepare is now; you never know when an unforeseen circumstance could permanently change your plans for the future. In my practice as an estate planning attorney, I have seen far too many clients wait far too long to begin the process, but you do not need to be one of them.

New Year, New Goals

As 2016 draws to an end, many people will be making resolutions to improve in 2017. Some will resolve to lose weight, others to stop smoking, and still others to make better financial decisions. If you do not currently have an estate plan in place, however, a resolution to develop one in the coming year is highly advisable.

According to various estimates, one-half to two-thirds of American adults do not have a will. This means that if they should die unexpectedly, they have virtually no control over what happens to their assets or their dependents. There are laws in Illinois that deal with assets not covered by a will or other estate planning tools, but they can be very complicated, and the final result may not be what you would have wanted.

Estate Planning May Be Easier Than You Think

Thinking about death and mortality is not pleasant, but it is important to remember that the estate planning is about preparing for the future. With the help of a qualified lawyer, you can decide what will happen to your assets and property, as well as your dependents. You can also make decisions in advance regarding your own health and medical care, easing the burden on your loved ones. The estate planning process does not need to be overwhelming, especially with the right attorney at your side providing the guidance you need.

To learn more about using a will, trust or any other instrument to protect your family’s financial security, contact an experienced Naperville estate planning attorney. Call The Gierach Law Firm at 630-756-1160 to discuss your situation with a member of our team today.

 

Sources:

New York Times

NBC News

USA Today

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