The Best Holiday Gift is a Well-Planned Estate
We don’t know about you, but we’re ready to say goodbye to 2022. It’s been a year full of surprises, twists, and turns, and we’re looking forward to the holidays, where we can take a step back from the bustle of daily life and focus on what really matters: Spending time with our loved ones.
The holidays offer an opportunity to reflect on the year that’s passed, and look forward into the future. Spending those moments with your family makes it even more special. Being able to recreate a favourite family recipe with your daughter, looking at old photos from vacations with your grandchildren, and ringing in the new year with your spouse: These are the moments that matter and reaffirm how important our loved ones are.
That’s why we’d like to encourage you to take advantage of this holiday season and set a plan for the future with your family. Estate planning is something that many people put off until it’s too late, and we get it: It can feel uncomfortable, or unfitting when you’re just trying to enjoy time with loved ones. But a comprehensive estate plan is actually a powerful display of love to those around you. Together with your family, you’re taking the future into your hands and ensuring that the people you love will always be taken care of, no matter what life throws at you. By planning ahead, you’re giving your loved ones a truly wonderful gift: Peace of mind.
Estate planning doesn’t just consist of having a will, although that’s important too! A good estate plan will ideally be created together with your family, so there are no surprises or confusions down the road. This can include strategies to reduce taxes, ensure that your family doesn’t waste money on attorneys and accountants when they’re not needed, and make your wishes and directions clear for when you’re no longer able to communicate them.
Did you know, for example, that many people don’t include instructions in their will for what should happen to their pet? When there’s no designated caretaker and money set aside for a pet’s care, that beloved companion could end up in a shelter.
Another thing people don’t often think of is setting up powers of attorney. While no one likes to think about the possibility of not being able to make decisions for yourself anymore, it’s always better to be prepared. You’ll have the relief of knowing that no matter what, your wishes—whether it be about medical care or financial decisions—will be respected and enforced by someone you trust.
Estate planning also involves naming an estate executor who will ensure that your belongings and your loved ones are properly taken care of when you’re no longer there.
Creating an estate plan doesn’t have to be intimidating. It’s a valuable opportunity to have a meaningful conversation with your family about your values, your wishes, and your plans for the future. We not only believe that everyone should have an estate plan, we also believe that everyone should have access to the tools and knowledge needed to create a comprehensive plan with their families.
Estate planning isn’t just for wealthy families with many assets and several lawyers on retainer. Everyone can and should create a plan so that you and your family can go back to baking cookies, unwrapping presents, and stepping confidently into the new year with a light heart and a calm mind.
Start the new year off right. ClearEstate offers free consultations to discuss how you can create an estate plan that’s perfect for you and your loved ones.
If you have questions about planning your estate, we invite you to book a free, no-obligation consultation with an estate professional from our team.
Visit clearestate.com or call 1-866-994-3695 to learn how we can help.