New Year’s Resolutions and Estate Planning

It’s hard to believe 2010 is almost over, and with 2011 just around the corner, it’s time to make your New Year’s resolutions. For many people, the standard resolution is getting organized, and along these lines, let’s make it a year to get our estate plans in order.

Estate planning is all too often our ‘when I have time’ or ‘next year’ task. But tis the season to get our estate plans in place. Whether it is creating a will, disability planning, creating a medical power of attorney or considering a living trust – these are not tasks that should be left, once again, for next year. With the major changes in store with estate taxes for 2011, as it stands, estate taxes are slated to go from 0 to as high as 55% on January 1, 2011 (although there’s a lot of activity in Congress as they wrestle over possible changes).

For those who have already started the estate planning process, take time to review your plans and make sure they are up to date. Whether there have been life changes or even law changes, estate plans consist of ‘living’ documents that should be updated on a regular basis.

An estate planning attorney can help you with your estate planning New Year’s resolutions, and help to ensure your family’s needs and goals are met.

Author Bio

Catherine Hammond is the CEO and founder of Hammond Law Group, a Colorado-based estate planning law firm she founded in 2005. With a strong focus on protecting families from the legal consequences of disability and death, she creates comprehensive estate plans that minimize taxes, costs, and government interference.

A native of Denver, Catherine completed her undergraduate studies at Coe College in Iowa, and her Juris Doctorate from the University of Denver College of Law in 1993, concentrating on estate planning, tax, and mediation. Catherine is a member of various professional organizations, including WealthCounsel, ElderCounsel, the National Academy of Elder Law Attorneys, the Colorado Springs Estate Planning Council, and the Purposeful Planning Institute. Beyond her legal expertise, Catherine provides transformational coaching to support clients and their families through life transitions.

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