November is a month filled with change, reflection, and anticipation, of the holiday season. While estate planning may not be at the top of your holiday to-do list, it’s the perfect time to start. Here are some compelling reasons why November is the ideal month to focus on estate planning.
- Year-End Financial Evaluation: As the year draws to a close, November is an excellent time to assess your financial situation. You can review your assets, debts, and investments, helping you make informed decisions regarding your estate.
- Tax Efficiency: Estate planning offers a chance to optimize your tax strategy. By addressing this task in November, you can make the most of potential tax benefits and safeguards for your assets and heirs, reducing the tax burden.
- Adequate Time: Starting in November offers sufficient time to consult experts, gather required documents, and make thoughtful decisions without feeling rushed or overwhelmed.
- Healthcare Planning: Estate planning encompasses not only your financial assets but also your healthcare preferences. November is an ideal moment to create or update your living Will, healthcare proxy, and other documents that provide guidance on your medical care.
- Planning for Minor Children: If you have or are expecting minor children, estate planning allows you to appoint guardians and provide for their well-being, education, and future needs.
- Peace of Mind: While we often associate estate planning with holidays, peace of mind is valuable year-round. Starting in November provides you with ample time to address this important task without feeling rushed.
In summary, take advantage of November’s unique benefits to start the process, and give yourself and your loved ones the gift of financial security and peace of mind throughout the year! If you’re looking to create or update your estate planning and are seeking legal advice call Shoffner & Associates at 617-369-0111.
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Freya Allen Shoffner, Esq.
Shoffner & Associates
Counselors to Small Business and Families.
Give Freya a call at (617) 369-0111 TEXT US (413) 207-6219 or email fashoffner@shoffnerassociates.com
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