Although it is not on the minds of many people, there is never a wrong time to begin estate planning in DC. As long as you are at least 18 years old, you can begin estate planning which may be beneficial in the future for both you and your loved ones.
Estate planning can be confusing to navigate, and a person may not be sure of what steps to take or even how to begin the actual process. Due to this uncertainty, it is very important to retain an experienced and knowledgeable DC estate planning lawyer who will help guide you through the necessary steps.
In addition, even if you have already started estate planning in the past, it is necessary to keep up with it to ensure everything is up to date, such as new marriages, children, or divorces. There are many factors that define a person’s estate planning, and so it is important to consult with an attorney to make sure your estate is planned in a way that serves your and your loved ones’ interests.
Issues That May Arise
There are number of issues that may arise throughout the estate planning process, but the process is meant to be a review of client assets and their financial holdings so that some of those issues can be discussed and managed by the time the estate planning process is completed. Often, the most difficult portion of estate planning for clients is deciding which individual should care for their minor children, if any, and how to properly create and fund some sort of mechanism of support for minor children.
The estate planning process can be an emotional process. It is not easy for individuals to think about their demise. It can be a little bit stressful for clients to contemplate what would happen after they passed away; however, it is one of the greatest gifts that you can leave your family. In addition, estate planning can also lead to a more cost-efficient and streamlined estate administration procedure.
How an Attorney Can Help
An estate planning attorney, who has experience in both planning and administering an estate, may be able to help clients address some of the issues that they have and give them viable suggestions to resolve some of those issues. There are a myriad of solutions and each estate plan is usually tailored to each client’s financial holdings, family dynamic, and unique set of goals. An estate planning attorney can assist with advising about practical solutions for a client that may help a client be able to make better or more knowledgeable decisions.
First Steps to Take
It may be helpful to speak with an estate planning attorney so that you understand what their process is and what is required to begin the process. There is no bad time to begin estate planning, and usually the process itself will help clients organize their assets so that they understand or are able to hone in on their specific goals and desires for the distribution of their assets after death.