When is too soon?
By Submitted to Corner Post
After decades of working, a couple looked forward to more time together and traveling to visit family members and points of interest they’d long dreamed about. Shortly before the man’s retirement, the couple learned that, not only was the income they expected to provide for them inadequate, as a result of expenses they had not anticipated, they were going to have to sell the home they loved.
It’s an all-too-common situation among many in which family assets are diminished and dreams must be forgotten. Although a variety of reasons may be to blame, the most common by far is a lack of proper planning (and perhaps a lack of follow-through on a plan).
A comprehensive plan involves the counsel of professional advisors who are familiar with your goals and concerns, your assets and your family structure. And the plan should be periodically checked to be sure details still conform with wishes of the principal party and still include proper persons.
Nobody’s ever started planning too soon, but the list of those who regretted waiting too long to start is a mighty long one. So, seek the advice of trusted professionals who are qualified to properly advise and assist you sooner, rather than later. This includes licensed experts in financial planning, law (estates, wills, trusts, etc.), insurance, and tax accounting.
