This Summer, Reassess Your Estate Plan
Plan for the future while you relax
School is out. The weather is warm (and the humidity is atypically low for Maryland—yay!). The vacation is booked. All is well. There is no better time to establish or update your estate plan.
Why? There are the more obvious and practical reasons: you’ll want to have an advance directive in place in case of a medical emergency, so your wishes are known, and you have appointed an agent in case of incapacity. You’ll also want to have a power of attorney in place if, for example, you need an agent to transact on your behalf while traveling. And, of course, you’ll want to, at minimum, have a will (or perhaps a revocable living trust) to appoint guardians for minor children and provide for the distribution of your assets.
These are all very good reasons to establish an estate plan this summer.
Slow down and reflect on what’s important
Summer is when we slow down, spend time with family and friends, and enjoy the world around us a little bit more. Days are longer, and schedules aren’t quite as hectic. It’s the sweet spot of the year. While you enjoy the slower mornings, afternoons on the beach with family, or time spent playing games while waiting at the airport, you can reflect on what and who matters to you most.
That is the core of any estate plan. It’s more than documents, property, and numbers. Estate planning is about leaving a legacy for your loved ones, regardless of your assets or net worth. Your estate plan is, in many respects, a parting message to those you love most.
Estate planning at Maguire Law is focused not only on protecting your assets but also on sparking important family conversations. Maguire Law is here to help you and your family start that conversation. Take advantage of the summer downtime and prioritize what matters most to you.
Schedule a free consultation with Maguire Law to get started now.
Ms. Maguire is an estate planning attorney in Baltimore, MD.
*This blog is for educational purposes and does not constitute legal or tax advice.
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