When is the Best Time to Plan an Estate?

“Procrastination is like a credit card: it’s a lot of fun until you get the bill.” - Cristopher Parker

Life rarely happens as we expected or planned. A
“normal” progression of life might be where you go to
school, get a job, get married, have kids, get kids
through college, retire, become grandparents, enjoy
life, and then … after a long and fulfilling time, we
know that we will eventually die. But everyone knows
that real life isn’t perfect and rarely happens that way.

People have children and don’t get married, people
divorce, they marry more than once, some don’t have
a family or marry, others are faced with unexpected
circumstances – all of which are unpredictable and
unplanned. Real life is full of choices, surprising twists
of fate and unforeseen occurrences. Like with many
things in life, if you have been procrastinating when it
comes to planning for the realities of life, it’s like the
credit card that’s easy to put off today but not a lot of
fun when you get the bill.

There is no better time than now to plan for both the
unexpected and the inevitable things in life.
Wouldn’t it be better to ensure that the people you love
and care about will be taken care of the way you want,
especially if your life were to end suddenly and
unexpectedly?

Preparing today with an effective estate plan
doesn’t mean that you will die tomorrow just as
buying car insurance today doesn’t mean that you will
have an automobile accident next week. What it does
mean, however, is that if you act now you won’t have
to worry about what could happen tomorrow, next
week, or next year to your family if your life doesn’t
follow the “normal” progression you may have
expected. So when is the best time to plan your
estate? Right now!

Justin T. Crain is an estate planning attorney in the Plano, Texas office of Thomas Walters Estate Planning where he provides legal services including Wills, Trusts, Gun Trusts, Guardianship Administration, Probate, Estate Administration, Medicaid Planning and Nursing Home Planning to those in the surrounding areas of North Texas.