One of the questions we get most at Sheppard Law Office is about when is the right time to start planning your estate. And many of the people who ask are surprised when we give them the same answer.
The right time to start your estate plan is yesterday. Old or young, single or married, regardless of social or financial status, everybody should create an estate plan to have on the books, from the moment they become a legal adult.
Now, admittedly, we know that’s what you expect to hear from us – we are estate planning attorneys in Ohio, after all, of course we’d tell you that our estate planning services are important. But what you really want to know is WHY is estate planning in Ohio so important, and what is the particular importance of starting early?
That’s what we’re here to tell you – you can decide for yourself after that.
Why Should You Start Estate Planning in Ohio Early?
It’s a morbid thought, but the reality of estate planning in Ohio is that it helps you have a plan in place for when you’re no longer here. And more than likely, you have plenty of time left to make those decisions, sure. But we can never know for sure.
Obviously nobody wants to think about the possibility of an untimely demise, but estate planning isn’t about that. It’s about making sure that your plans are ready for whenever that day comes.
Whether you’re in your 20s or your 90s, creating an estate plan in Columbus and throughout Ohio does the same thing for you – it provides legal instructions for what you intend to have done with your assets after you’re no longer around to make those decisions for yourself.
But the thing is, once you’ve made your estate plan once, it’s done! There’s no expiration date on it, so there’s no reason for you to have to “wait” to make one. None of us know what the future holds, but once you’ve gone through with estate planning in Ohio, you at least have the peace of mind of knowing that your loved ones will be taken care of and your wishes carried out after you pass, whenever that is.
Aren’t There Downsides to Early Estate Planning in Ohio?
Your next thought might be something along the lines of this: “Wait, but if I talk to an estate planning attorney near me and create an estate plan for myself now, what happens in a few years if my life plans change? Wouldn’t it be better just to wait until I know for sure?”
Of course, life is constantly changing. People get married, get divorced, have children, and children grow up. Any number of things may change how you want your assets distributed after your passing. So of course, an estate planning attorney in Ohio is ready to assist with that!
When you make your estate plan, it will remain legally binding for as long as you want it to. But we understand that life changes, so when that happens, well, you just make changes to your estate plan! There’s no reason you can’t alter your estate plan as you go through life changes, you just talk to your estate planning attorney about it, and it’s a fairly easy process!
So you see, there is no real downside to beginning your estate plan as early as possible – once you do it, it persists, and you can make changes to it at any time.
Most importantly, working with an estate planning attorney in Ohio means you can avoid, or at least ease, the probate process for your loved ones and beneficiaries after you’re gone.
Probate is a stressful process where your loved ones have to go through the courts to determine and carry out your final wishes. An estate plan works as an instruction manual that you leave behind, making the process much easier, and ensuring your wishes are known and that nobody has any doubt as to what you wanted.