Having an estate plan is an important way for a person to decide what they want to leave to their family when they pass away, and if there are donations or other areas where some of their assets should go. For couples, doing this can help ensure that everyone is on the same page about what will be left behind. However, a recent survey has shown that over half of couples don’t have a proper estate plan, which could lead to issues for the surviving member of that couple.

Even for couples who are on the same financial page right now, having a plan matters. Not only can views about money and assets change over time, but having an expert help with the process can make everything a lot easier. That helps ensure that needs are met and wants are addressed, so both partners understand what they’re leaving to others and the wishes and goals of the other partner.

It’s also important to revisit that estate plan from time to time, in order to make sure it continues to represent the best interests of the people involved and remains accurate based on financial goals. Every five years is a good baseline for looking over a financial plan, but major life changes can mean taking a look sooner than expected. A lot of people avoid creating an estate plan because they’re intimidated by the idea, or it makes them uncomfortable.

While that’s understandable, working with an expert makes it easier to push past those concerns and focus on what’s most important. That way, questions are answered and there’s confidence that the plan is the right one. If you don’t have an estate plan, or your partner doesn’t, it’s time to sit down and work with a professional to create the right one for your situation and needs.

Then, you can have confidence for the future and peace of mind in knowing that your wishes are clear and will be honored when you pass away. That can help protect your partner and other family members, and ensure that they get what you wanted to leave to them.

If you are ready to start or update your estate plan, contact The Estate Planning & Legacy Law Center to schedule a consultation!