As the holidays come to a close, many New Jersey families are wondering if they gave their loved ones the best possible gifts, and if those gifts will be put to use in the coming year. One present that many may not have considered is the gift of estate planning services. While it may seem like an odd thing for one family member to give to another, this set of advance planning tools is a present that can be incredibly powerful and effective.
Most often, parents will complete their estate planning package far in advance of their adult children. Once that process is complete, many individuals and couples feel relief that these needs have been addressed, and confident that their wishes will be carried out as desired. Giving that same assurance to their adult children becomes a priority for some.
Parents can give this gift by discussing the matter with their own estate planning attorney, or by contacting an attorney in the area where each child resides. Some attorneys offer a package of estate planning services with a pre-established cost. Others may allow parents to pay in advance for a certain number of hours, then bill the client for any additional time needed to complete the process.
Estate planning may not be a conventional holiday gift, but it is certainly one that can have a great deal of impact on the lives of loved ones. New Jersey residents should consider whether this approach is a good fit for their family. In many ways, estate planning services is truly the gift that will keep on giving for many years to come.
Source: investors.com, “5 Changes To Make To Your Financial Plan Now“, Marie Beerens, Dec. 18, 2015