With the holiday season behind us and the new year just beginning, many people are doing their best to make positive changes in their lives. New Year’s resolutions are always fun to think about and plan, but, sometimes, too few people actually carry through with their plans for improvement. For Nevada residents, perhaps one of the most important goals for the new year should be to make an estate plan, if they don’t have one already.
As a recent article noted, making an estate plan is just one of several financial tips that people can follow to address money issues in the new year. Many people think that they don’t need an estate plan, thinking that, instead, estate plans are for the rich and famous. Nothing could be farther from the truth. Estate plans can help people of all different kinds of financial and family situations.
For example, as the recent article mentioned, couples who have minor children could benefit tremendously from having a comprehensive estate plan crafted. Part of an estate plan for couples with minor children is naming a guardian for those children, if the worst should happen. In doing so, the couple can feel secure that, even if tragedy strikes, their children will be cared for in the manner they desire.
Various documents can make up an estate plan, other than just a will. Nevada residents may need to also consider the benefits of trusts, power of attorney documents and healthcare directives. The one thing to avoid is not having an estate plan at all. As the new year continues, our readers may want to look into their legal options when it comes to estate planning.