Turning from thoughts to action re your estate planning

“It’s never too early.”

That quickly offered tip precedes all others spotlighted in a recent how-to article on estate planning appearing in the online publication Personal Finance.

Many prospective planners in California and across the country drag their feet when it comes to taking meaningful steps toward crafting a sound and tailored estate plan. Their disinclination to act can owe to many factors, including these:

  • Understating the complexity involved (e.g., it will be quick and simple, so I can turn to it at my leisure)
  • Overstating the challenge (viewing the process as so complicated that it just seems impossible to get started)

We focus on that latter bullet point in today’s post, since its expressed viewpoint unquestionably keeps legions of would-be planners in perpetual stall mode.

Personal Finance empathizes with those individuals. The above-cited article duly stresses the “all-encompassing” nature of estate planning, noting its application across broad-based subject matter.

Just consider. A well-crafted plan will include a will and perhaps one or more trusts. It will likely address property transfer and beneficiary specifics. Powers of attorney relevant to finances and health care in the event of incapacity are often important planning instruments. Tax matters, charitable giving, guardianship/conservatorship concerns – all these things and more commonly loom large during the planning process.

A proven professional – especially one with an integrated background as an attorney and a CPA – can be a significant ally to an individual striving to craft a quality strategy.

Personal Finance underscores that point. The publication notes that such an adviser “can save you a lot of time, energy and effort in building out your estate plan.”