It’s easy to put off drafting a will. Not only is estate planning tedious, but it also forces you to confront the idea of mortality. If you want to protect loved ones in all eventualities, though, it’s essential to have a comprehensive estate plan in place long before you need it.

Why It’s Never Too Early to Start Estate Planning

1. You Can Modify the Arrangements at Any Time

Excluding irrevocable trusts, estate plans are fairly easy to modify. In other words, the fact that your family dynamic and financial situation will evolve over the years is not reason enough to postpone estate planning. In fact, once you do draft a will, it is wise to review it periodically and ensure all its terms still apply.

2. There Are No Guarantees

Being young or in perfectly good health does not necessarily mean you do not need a will. Watching a few minutes of the nightly news should be enough to remind you that life is unpredictable. Although it’s only natural to hope for the best, it’s wise to plan for the worst, especially if anyone relies on you for financial support, emotional support, childcare, or domestic help—or all of the above.

3. Your Life’s Work Is at Stake

If you die without a will, the state will step in and distribute any assets according to the laws of intestate succession. These laws prioritize immediate family members, but they may not distribute your estate in the same way you would have. And, if you start a company, it’s especially important to think about the future and devise a business succession plan in the event of an untimely accident or illness. This will ensure the company continues to thrive and loved ones will be taken care of in your absence.

If you need help drafting or updating your will, turn to Stuart R. Norman Jr. This knowledgeable estate planning attorney has been practicing out of Jewett City, CT, for over four decades. He and his team are proud to help residents of New London County protect their loved ones by planning ahead. They also assist with real estate transactions, elder law, and contract disputes. To learn more about their estate planning services, visit their website, or call (860) 376-0069 to discuss your needs today.