There is the old saying that the only thing that is certain is death and taxes. All other occurrences in our lives have an air of uncertainty. Estate Planning helps you prepare for life’s two certainties! Yet, the vast majority of people have not done any estate planning.
This is bewildering to me, since if I knew who was going to win the Super Bowl, I would head over to Las Vegas and place a wager on that without hesitation. If you knew it was going to rain, you would make sure you grabbed your umbrella before you left your house.
Even though we all know we will someday pass away (the only uncertainty being that we don’t know when or how), many people still decide to put off doing the necessary planning to prepare for that fact. The actual plan that meets your needs will vary – but that’s precisely why we are here! As estate planning attorneys, we can help you prepare the plan specific for your situation and the various potential paths that your future could take.
For those of you who have created a living trust, “KUDOS!” You are in the minority, but you are well prepared! I will say two things:
1) Make sure you have your living trust and all other estate planning documents reviewed regularly. It is important to sit down with an MH estate planning attorney at least every three years to see if what was put in place still meets your needs. Life is fluid, and your situation and your goals will change, and as they do, so should your estate plan.
2) Tell your friends and family to stop procrastinating, and to get a plan in place! Since you realized the importance of having an estate plan, you should pass on that wisdom to those people in your life. Also, their lack of planning may affect you, especially if you are a beneficiary that will now have to battle with the probate courts because others were not sufficiently prepared.
Life is uncertain, but you will be paying taxes, and you will die (hopefully a long time from when you read this)! So prepare for the two things that you know will occur. Call 888.222.1328 to make an appointment today to come in and discuss your situation with an attorney from MH!
Contributed by MH Arrowhead Attorney James P. Plitz
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, powers of attorney, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead. Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
- Planning for your frequent flyer miles.How Anthony Bourdain did it. - July 11, 2018
- Traveling – Plan for Your Destination! - June 27, 2016
- Happy 100th Birthday to the Federal Estate Tax - June 22, 2016