There are several different situations in life that may trigger the need to develop or revise your estate plan. We have talked before about some of them, such as buying your first home or car, receiving an inheritance, and/or starting a business. This week, your estate planning professionals in Osage Beach MO are here to discuss a few other situations that may motivate people to make important end of life decisions.
When To Draft (Or Revise) Your Estate Plan
Starting A Family
Starting a family is a life-changing experience. Your kids will become your whole world - the first people you think about when you wake up in the morning and the last people you think about before going to sleep at night. As parents, you will want to be confident that your children will be well cared for in the event that something happens to you. We can help you set up an estate plan nominating a new legal guardian for your children in the event of your death.
Losing A Spouse
Whether by death or divorce, losing a spouse is a life-changing event. If you set up an estate plan while you were married, it should be updated to reflect your current situation. You may also need to update the beneficiary information on your life insurance and retirement accounts.
Going On An Overseas Vacation
Traveling abroad is wonderfully exciting, but it comes with its fair share of risk. Hopefully you will return home safely after your trip, but life is notoriously unpredictable. If you are planning to travel abroad soon, it may be wise to consider your end of life wishes and make sure your affairs are in order before your departure.
Believe it or not, your plans for retirement can impact your estate planning needs rather significantly. As people retire they tend to become more aware that their time on this earth is limited, and they may become motivated to get their end of life directives in order while they are still capable of doing so.
O'Donnell Law Center:
Your Estate Planning Resource At The Lake
End of life can be an unpleasant topic, but it doesn't have to be. Our team is here to support you through this important planning process. We create a comfortable environment that facilitates dialogue about difficult topics, and we work diligently to craft the estate plan that will best meet each client's unique needs. After a brief, private signing ceremony, our clients leave our law office in Osage Beach with their original estate plan, and an electronic copy follows shortly thereafter.
If you are unable to travel to our Center, we can come to you or take much of your information over the phone or through electronic communications.
We Carry Your Burden ~ You Carry On With Life.
Disclaimer: No attorney-client relationship is created by the publication of this blog.
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Phone: (573) 552-0317
O'Donnell Law Center, LLC
Osage Beach, MO 65065