Here’s a question we quickly pose for Arkansas readers of our blog: Is scheduling an appointment with an experienced Little Rock estate administration attorney on your Top-10 list of things to do as you near the end of the year?
No, we didn’t think so. But we tactfully suggest at Robertson, Oswalt & Associates that you might reasonably scratch in such an entry on a piece of paper you could be carrying around in your pocket or wallet.
There are many reasons why you might want to act on that inclination. In fact, one seasoned financial adviser and asset-management author writing for the national publication MarketWatch provides 10 reasons why timely turning to estate planning matters is a well-considered move for most people.
Here’s one: It’s not just about the money. Many people think it is, of course, which is one hurdle that needs to be overcome before they can appreciate the diverse and broad-based benefits conferred by a tailored estate plan.
As the above-cited writer stresses, it can often be about the kids, especially when they are young. Carefully crafted estate documents can help parents rest confident about having a vetted and strong guardian on board if something unforeseen should ever happen to them.
A proven attorney can also help one or more planners make arrangements for a health care proxy and individual to handle key money matters in the event of incapacity.
Of course, the customarily considered matters relevant to planning are also important in most cases. Those range widely from asset preservation, the lawful avoidance of taxes upon transfer or death, inheritances for future generations, gifting, charitable contributions and more.
There is no “bad” time to turn to estate planning. Getting started early, though, can best ensure that a wide range of relevant concerns are addressed and solutions fully implemented through careful and tailored legal documentation.
An experienced Arkansas estate planning law firm can provide further information.