When it comes to our health and, by extension, our longevity, the simple truth is that most of us believe we will live well into our 80s or even our 90s. This is especially true for those of us who enjoy an active lifestyle -- exercising regularly, eating right, taking vitamins, and even making a point to avoid unsafe or damaging activities.
While this is admirable and certainly increases the chances of living a long life, the fact remains that no matter how many miles you walk per day or how many plates of brown rice you consume, you are still never entirely immune to the possibility of a premature passing.
If all this sounds morbid and maybe a bit frightening, that's understandable. However, the point isn't to scare or discourage, but rather to draw attention to the fact that life is unpredictable and, as such, it's important to be prepared.
Indeed, regardless of how old you are, how much wealth you've accumulated or even how healthy you are, you should give very serious thought to the idea of executing an estate plan. That's because it can ensure that your tax burden is minimized, your favorite charities receive a gift, your loved ones are provided for, and your exact wishes are carried out in the event of your demise.
While everyone's situation is different, a comprehensive estate plan could include any of the following:
- A simple will
- A trust
- A guardianship
- An advance healthcare directive
- Charitable trusts
- A power of attorney
At Frye & Vazquez, P.L., we have been helping people from all walks of life secure the peace of mind that comes from planning for the unknown for years. Together, we can examine your circumstances, discuss your concerns, outline your goals and work to create a solid estate plan.
To learn more about our services in this area or about updating an existing estate plan, please visit our website.