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Procrastinating is not ideal in estate planning

| Mar 20, 2019 | Estate Planning |

Those who own property or live in Louisiana may be stressing over the prospect of creating an estate plan. The good news is that the anticipation may actually be worse than creating the plan itself. Those who are concerned about how to make an estate plan should consult with an attorney for help.

Speaking with family members may also be a good idea during this process. Doing so can be effective because it shows others that they are valued as both beneficiaries and as adults. Choosing the right executor is also important as that person is the one who will ensure that everything is distributed properly. While it may seem easier to simply ignore the problem of creating an estate plan, it can be a critical mistake. In many cases, failing to plan for what happens after passing causes family members more stress and grief.

People are urged to take their time when making an estate plan. Rushing through the process may increase the odds of making a mistake or failing to account for an asset or other important issue. After a plan is created, an attorney can help to review it periodically to ensure that it still meets a person’s needs. Ideally, a review will take place annually.

The process of estate planning can begin as early as a person would like it to. Parents may benefit from being able to appoint a guardian for their children. Other younger people may benefit from having health care or financial powers of attorney available to help them if they become incapacitated.