When many New Jersey residents think about drafting estate planning documents, they believe that the perfect time to do so is at some vague point in the future. This is an easy task to postpone, for a variety of reasons. However, failing to create a comprehensive estate planning package can create an urgent situation. One of the best ways to approach this need is as if it was an emergency scenario.
In an emergency, tasks are handled immediately, without undue consideration of all available options. Choices are made based upon the most urgent of needs, and a forward momentum is established. Estate planning can be undertaken in the same manner, and this tactic can be very effective for individuals who have not been able to gain the motivation to draft these documents in the past.
By approaching estate planning as an emergency, individuals should not allow any other distraction or obligation to distract them from completing the process. It may also be helpful to keep in mind the fact that should an actual emergency arise before these documents are in place, the financial ramifications could be devastating. There should be a sense of urgency in place for those who have not addressed this important need.
When it comes to getting one’s estate planning needs in line, virtually any tactic that is effective is a good choice. For some in New Jersey, approaching the issue as if there were a pressing emergency can be a powerful motivator. In fact, responding to this need as if there were an emergency at hand could help avoid an actual legal emergency should the individual pass away without these needs being properly addressed.
Source: Tri-State Neighbor, “Give estate planning emergency status”, Michael Baron, June 30, 2014