Everyone is making new years resolutions right now, but what I want to talk to you about is a resolution that you can make in regards to your life. I'm talking about this New Year's resolution you should make for yourself and for your family. It's not about starting a new exercise, or a new diet plan. It’s not about a new hobby it's about the resolution to take care of you, your family, and your loved ones by starting your estate plan. This can not only secure your family's future but also secure your legacy.
New Mexico Estate Planning
Some of you are probably thinking “what does it mean to start an estate plan?” Well in the simplest form an estate plan is a way for you to layout how you want your assets to be distributed or handled in the event of your incapacitation or death. A lot of us are familiar with a will, a will can be apart of an estate plan. It will designate if you have a beneficiary. The Beneficiary will decide where the property should go. You can consider as well as part of your estate plan how to protect yourself financially, and then also what the right type of estate planning for your situation is. If you are looking for something more private, there are trusts. A trust is an arrangement whereby a person (a trustee) holds property as its nominal owner for the good of one or more beneficiaries. There are many other vehicles and avenues to examine when making an estate plan so that it fits within your situation. There are powers of attorneys, transfers on death, you can set up a limited liability company, there is a lot you can do for your estate to protect yourself financially. So again, a will and estate plan is a good idea so that you can secure financial security for your family and loved ones going forward and also your securing your legacy in the future.
If you have any questions or you want to find more content about family law or about estate planning just search our website under FREE INFO, or you can also go to our Protect Your Success podcast on Apple Podcasts. Alright, folks have a great New Year I'm looking forward to working with you and your New Year's resolution.
If you need help starting an estate plan, creating a will, or help on a probate case, give us a call at 1.505.317.4455 and one of our experienced New Mexico family law and estate planning attorneys will guide you in the right direction to make sure your legacy is secured and your family is taken care of.