The festive period is normally a happy time, a time for giving and receiving but for many also a time of reflection. We also to look ahead at the coming year, to set our goals and make those New Year’s resolutions then promise ourselves to actually stick to them this time! Whether that is to lose that weight you’ve been promising, apply for that new job, or to get your affairs in order.
Many people put off their estate plan year after year. We promise ourselves that we are going to finally sort our Will out and then forget about it only to agree to sort it out again in the new year. According to a BBC News article, which you can read here, more British people die during the first full week of the year than at any other time. The chart included in this article shows deaths by day during December and January in England and Wales. It shows a peak during the first full week of the year.
While estate planning may not be traditionally associated with the winter holidays, the end of the year is a good time to reflect on your situation and plan for the future. Estate planning is a good idea for families at all stages, and it’s particularly important at certain milestones like marriage, having kids, and reaching retirement age. Basic estate planning documents like a Will, a Power of Attorney, and a Funeral Plan allow you to clearly set out your wishes.
You have the opportunity to create a plan that fits your family’s particular dynamic. For example, you may want to provide for your children and relatives, or you may want to set up individual provisions for your grandchildren or favourite charities. Keep in mind that a basic Will may not cover all your assets, so other options like Trusts may be necessary but your Will writer will be able to discuss this and advise you of the best options for you.
So, while the family is together, and we are in this period of reflection and planning use the time to be open and discuss your wishes with the family. Commit to creating your plan going forwards so you can have peace for many more years to come.
If you would like some friendly, caring & supportive advice about your role as an Executor, or Power of Attorneys, Funeral Planning, Will Writing and how we can help you, you can call Sara on 01304 577998 or email firstname.lastname@example.org.