Control Your Future with Early Estate Planning
Experts say it is never too early to start planning your estate—case and point, some even say you should start estate planning in your 20s. That said, while in your 50s or beyond, now is the time to start planning; it’s never too early or late to start. There are many benefits to early estate planning—not only in the best interest of you, but also your loved ones. As one of Georgia’s leading senior living communities, join the Holbrook Life staff in exploring what early estate planning is and why it’s so essential for you and your loved ones.
Reasons for Early Estate Planning
What is Estate Planning?
Estate planning is most common for organizing your estate before passing away, but you may not know that it’s also preparing for an unforeseen disability or incapacity. While this is a difficult circumstance to plan for, it’s important in making sure your wishes are honored upon unavailability. This may establish important decisions such as distributing assets, minimizing taxes, or decision making roles for loved ones.
Why is Early Estate Planning Necessary?
It’s a difficult thought, but we cannot tell what the future has in store for us. Addressing an estate early will make the process easier and as intended if something sudden were to happen. Without an estate, the process may be expensive for you loved ones, causing distribution issues that could have been avoided through estate planning. Also, not having a plan may cause your estate to go into probate, which is the government’s default process for administering a decedent’s estate. Probate could include appointing someone you may not have wanted to make financial and/or medical decisions on your behalf. Starting to put an estate in place now will ease related complications later on.
What are the Benefits of Early Estate Planning?
Through early estate planning, you will establish a blueprint that will provide for you during a time when you cannot while also benefiting your loved ones in a time when you may need the support. This will provide a plan for you to leave what you want to whom you want. Aside from the logistical benefits, starting the planning process earlier offers an opportunity to have a conversation with your loved ones, incorporating their hopes and dreams into your plan. This will benefit them moving forward while also raising the chance to support the causes that are important to you and your loved ones.
Find Your Home at Holbrook
Prioritize your wellbeing and health at Holbrook: a collection of active living communities across the Georgia and the Southeast. A place many call home, our senior living communities are at the top of their class, offering luxury amenities all with your quality of life in mind. At Holbrook, your happiest years are ahead.
To be a part of our inspired living community, contact us today at 404-445-7777. We are looking forward to hearing from you and being a part of this chapter in your life.