The holiday season is a time of joy, celebration, and togetherness with family and friends. While it may not be the main thing that you are thinking about during the holidays, creating your estate plan during this festive season can be a valuable and meaningful gift to yourself and your loved ones. Here are four of the top reasons why you should consider taking this important step during the holiday season:
1. The Family Is Gathered Together
The holidays often bring families together from near and far, providing a sometimes rare opportunity for face-to-face discussions. Having everyone in one place makes it easier to initiate these important conversations about your estate plan. Addressing topics such as wills and trusts as well as healthcare directives can ensure that your family members are all on the same page and have a clear understanding of your wishes. By involving your family in the process, you invite open communication and create a sense of unity in planning for the future.
Additionally, the holiday season is filled with emotions and shared memories. Sharing stories and experiences can help family members understand the significance of certain decisions, making the estate planning process more collaborative, enjoyable, and meaningful.
2. ‘Tis The Season Of Reflection
As the year draws to a close, many people tend to reflect on the past and plan goals for the future. This makes the holiday season an ideal time to consider the legacy you wish to leave behind. Reflecting on your life’s journey, achievements, and the people who matter most can guide you in making decisions about your estate plan. By taking the time to reflect during this season, you can ensure that your plan truly reflects your values and priorities.
Moreover, the end of the year often brings a focus on financial planning and goal-setting for the future. Incorporating estate planning into this broader financial perspective allows you to align your long-term goals with your overall financial strategy, ensuring a comprehensive and well-thought-out plan.
3. You’re Thinking Of The Future
The holiday season is not just a time for gift-giving and festive decorations; it’s also a time to think about the future, especially as your family begins to expand. Is there a new grandbaby in the family? Did your child just get engaged? Was there a recent adoption by a family member? Creating an estate plan is an important proactive step towards securing the well-being of all of your loved ones after you’re gone. By addressing important legal and financial matters now and updating your estate regularly, you have the ability to provide your family with the peace of mind that comes from knowing your affairs are in order and can ensure stability of the many generations that are to come.
Furthermore, considering the future during the holidays goes well beyond only financial matters. Discussing your estate plan during the holidays is an opportunity to discuss and plan for healthcare preferences, ensuring that your loved ones are aware of your medical wishes, so that they can act accordingly should a medical event occur.
4. There Is No Time Like The Present
We frequently hear the saying, “There is no time like the present,” and it certainly holds true when it comes to estate planning. Procrastination of the estate planning process can lead to missed opportunities and added stress for your loved ones in the future. By starting to plan now, you can ensure that your wishes are documented, legally binding, and take control of where your assets will go in the future. Creating your estate plan during the holidays allows you to enter the upcoming new year with a sense of accomplishment and the knowledge that you’ve reached a significant milestone towards securing your family’s future.
Beginning the estate planning process during the holidays provides a natural transition into the new year. Starting this process before the new year sets a positive tone for the coming months, empowering you to face the future with the assurance that you’ve taken responsible steps to protect your legacy.
What Should I Do If I Am Ready To Create My Estate Plan?
While the holiday season is a time for celebration, it also offers a unique opportunity to engage in important conversations and make thoughtful decisions about the future. Creating your estate plan during this season of togetherness, reflection, and forward thinking is a gift that will provide lasting peace of mind for you and your loved ones. As you gather with family and friends this holiday season, consider making the creation of your estate plan a part of your festivities. Here at Friedman Schuman, we want to help you make decisions for the future that meet your personal planning goals and protect your assets for future generations. Our estate planning department is dedicated to helping you and your family as you take the necessary steps to creating your estate plan. Contact our experienced estate planning attorneys today.