Estate Planning Awareness Month

According to the American Bar Association, 64% of Americans do not have a Last Will and Testament or a Trust.   These are pretty alarming stats. Many cite procrastination, discomfort, or the misconception that estate planning is only for the rich. Estate Planning Awareness Month is a reminder to break that cycle and to take action.

It's time to shine a light on one of the most overlooked yet essential aspects of financial wellness. Whether you're 25 or 75, estate planning isn't just for the wealthy or elderly—it's for anyone who wants to protect their loved ones and ensure their wishes are honored.

What Is Estate Planning?

Estate planning is the process of organizing your affairs to ensure your assets are distributed according to your wishes after your death or incapacitation. It typically includes:

• A will or trust

• Power of attorney

• Healthcare directives

• Beneficiary designations

• Guardianship plans for minor children

How to Get Started

You don’t need to tackle everything at once. Start with these steps:

1. Take inventory of your assets and liabilities.

2. Define your goals.  Who do you want to protect, and how?

3. Consult a professional.  Downey Law Group LLC can guide you through every step of this process.

4. Review and update your plan regularly, especially after major life events. The rule of thumb is to review every 3-5 years, or whenever your health or wealth changes.

   
   

Final Thoughts

Estate planning is an act of love and responsibility. It’s about securing peace of mind—for you and those you care about. This October, take the first step. Your future self (and your family) will thank you.

Our Estate Planning Attorneys are ready to help you today. 978-887-1000