The New Year is only a day away and if you haven’t already begun setting your goals for 2013, now is the time to start. Most of us will set goals to lose weight, pay off debt, increase our savings, send a child to college, perhaps get more education for ourselves, make needed repairs on our home…etc. All of these goals are important and are great steps to helping better our future – which is what goal setting for the New Year is all about!
However, there is one goal that most people won’t think of, but which we feel could be the most important goal you make this year. That goal is to protect your loved ones’ future with an estate plan from MH. Having a living trust not only protects your assets, it gives your loved ones guidelines for the future, provides for them and ensures that they will carry on your legacy. You can choose how, when and to whom your assets are distributed. You can even set goals within your estate planning for your loved ones! Want your son or daughter to get a college education? We can set up your documents to give a portion of their inheritance after they finish their education. Want to help a wayward child to create better habits and live a good life? You can set up a reward system that will give them portions of their funds when they achieve certain guidelines, such as staying drug-free, quitting gambling, holding a job for a set amount of time, buying their first home, starting a family and many more.
By creating an estate plan you also provide yourself, your assets and your loved ones with important protections. These protections can shield the asset and loved one from creditors, lawsuits, Medicaid spend-down, ex-spouses and more.
It is easy to say, “I’ll do it later” when it comes to estate planning. Unfortunately, sometimes there isn’t a “later” but only a “too late.” Don’t take that chance. Make it one of your New Year’s goals to create your estate plan this year!
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, power of attorneys, 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, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. 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.
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