NPR published an interesting article about baby boomers and retirement planning in—what has been since 2008—such a volatile economic environment. In light of this confusion is the fact that many men and women of the baby boomer generation do not currently have an estate plan in place. For some, this stage of life is a time when an individual or family begins to realize the importance of having a well-drafted estate plan in place.
Similarly, new families—those who have had a child in the last three years—also begin to see the importance of having an estate plan in place. Beyond these two categories of people, this time of the year makes estate plan creation make sense. Because most people are in the heat of tax preparations, this time of the year is one where we all tend to gather financial information and documents, and our current and future finances are on our minds. Accordingly, this time of year presents a good opportunity for the creation or review of an existing estate plan as we are already in a financial mode—collecting and analyzing our financial documents and positions—which makes estate planning naturally flow.
For any of us who do not currently have a comprehensive estate plan in place that match our wishes and desires for the distribution of assets and protection of our legacies after our passing, it is time for us to consider getting a properly drafted estate plan in place.
If you are interested in ensuring that your family is cared for after you have passed away, please call our office at 415-625-0773 to schedule your free estate planning consultation with San Francisco’s premiere estate planning attorney, Matthew J. Tuller.