The New Year is just around the bend, and while it may be too late to accomplish some of your 2020 goals, you do have time to successfully check one very important resolution off your list.
Do you recall reading the article, “New Year’s Estate Challenge” in our January e-newsletter? This article presented helpful tips to undertake estate planning as your 2020 New Year’s resolution no matter where you were in the process—whether estate planning wasn’t even on your radar or you were needing to update your plans.
Since you read that article, much has happened in our nation and world. Undoubtedly, these external factors have distracted us all and made it easy to lose sight of priorities. If creating your estate plan was a priority you set prior to our new norm of facemasks and quarantine, we encourage you to see this goal through to completion.
If you’re having trouble getting motivated, use these steps:
- Realize your risks and rewards
- Utilize our resources
- Take it one step at a time
Realize your risks and rewards
It’s human nature to avoid topics that we presume are complicated or just no fun. If you have a choice of going to the beach or visiting the dentist, you’ll probably choose the beach. Understandably, estate planning falls more on the dentist visit side of the spectrum. However, what most people fail to realize is that both activities—while perceived as not fun—hold great reward and long-term value.
Let’s take a closer look at the dentist scenario. You are expected to visit the dentist every six months for routine checkups. These bi-annual exams allow you to proactively care for your teeth and gums. But, if you decide to postpone these appointments, the more likely you are to experience an even more uncomfortable and costly dentist visit in the end.
Similarly with estate planning, the longer you delay making decisions, the greater risk you assume in your wishes not being honored and your family undergoing costly legal transactions. On the flip side, just as going to the dentist regularly yields strong teeth, healthy gums and a nice smile, proactive estate plan management rewards you with peace of mind.
Utilize our resources
We are excited to announce that since we published our “New Year’s Estate Challenge” article, we have released the new e-book: “Aggieland’s Ultimate Estate Planning Guide.” This e-book is a comprehensive estate planning resource that offers interactive worksheets for you to easily complete and use when you meet with your legal counsel to draw up your will or living trust.
The e-book’s last section showcases real stories of Aggies and friends of Texas A&M University who have found beneficial ways to incorporate the Texas A&M Foundation into their estate plans to create a brighter future for Aggieland.
For your convenience, this resource can be completed online, or you can also print a copy and write your answers.