Is an Estate Plan Part of Your New Year’s Resolution?
It’s true that setting up an estate plan may not be the most tantalizing New Year’s resolution, but it does make a lot of sense. You may be surprised to learn that according to the Static Brain Research Institute, just eight percent of Americans actually keep their New Year’s resolutions, despite the fact that over 40 percent of us make one. What might surprise you even more is that people over 50 tend to achieve their New Year’s resolution only 14 percent of the time, while those in their twenties succeed 39 percent of the time.
There may be dozens of reasons for such low success rates, but this does not have to mean you fail this year. People who set clear and straightforward goals succeed far more often than those with abstract or subjective goals. So, you are more likely to succeed if you set your mind to losing 10 pounds than if you say “I want to look better for the summer party.” So, how can seniors use 2016 as a season of success? That’s easy: get your affairs in order.
More than half of Americans die without a will
Several large media outlets recently reported that nearly half of Americans are going to die without a will. Almost half of all seniors will too. No doubt, sitting down to discuss death with a stranger is not the most pleasant concept. Indeed, nobody wants to think about how and when they might die. However, some websites now allow you to plug information into a template and pay a one-time fee, and a will is then created. The success of these sites can be attributed, at least in part, to the fact that people no longer need to sit down with an attorney and discuss the complexities and details of their lives.
By taking the human factor out of the equation, it is easier for some people to breeze through the process and feel as though they have checked it off their list. But this really is not wise, especially for seniors who own homes, have retirement accounts, and may be planning for long-term care. Nevertheless, the fact remains that many Americans simply do not plan for their own inevitable deaths.
How an elder law attorney can help
A brief visit with an attorney at the Millhorn Elder Law Planning Group in the Villages might be the easiest resolutions you make this year. Unlike the dehumanizing online pay-for-will services, an experienced elder law attorney can listen to your concerns, ask detailed questions about how you wish to leave your affairs, and help you build a plan that not only protects your children and your retirement, but also helps protect you in the event you need long-term care in the future.
Not all Florida lawyers are elder law attorneys. While the process can involve a lot of questions and a fairly in depth look at your finances and health, once it is done, you will have the peace of mind that so many do not have. What’s more, you will have done what only eight percent of Americans will do in 2016 – you will have achieved your New Year’s resolution.