Offered by Michael A. Dolan
Resolution: The act of being determined upon a course of action.
Procrastination: To put off until another day or time.
These two words have very different meanings, but around New Year’s Eve they always seem so similar. Why is it that we resolve to do the important things we know we should do, and then spend the next 365 days doing other things? One of the things this often applies to is estate planning.
Procrastinating in this area can cause your family to spend large amounts of your hard-earned wealth taking care of you and your assets during a disability late in life. It can also result in a complete mess upon your death, causing your children and other family members to fight, potentially destroying relationships. Lack of planning can cause unintended consequences resulting in the wrong beneficiaries receiving more than you intended, or your children writing a big check to the government.
These unintended consequences won’t bother you after you’re incapacitated or dead. But if they bother you now, why are you resolving to worry about them for another year? Do something about it! We are confident that taking the time to do your estate planning won’t make you die any sooner, and we are confident it won’t make you live any longer. But we do know for certain that a properly designed and implemented estate plan will make life a whole lot easier on your family, both emotionally and financially. So instead of Resolution or Procrastination, why don’t you commit to Completion?
Happy New Year from all of us at Dolan & Associates, P.C.!
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