Seizing the Leap: Starting Your Estate Planning Journey

Feb 26, 2024 lifefocusplanning-admin

Seizing the Leap: Starting Your Estate Planning Journey

Every four years, we’re gifted an extra day – the 29th of February. While it may seem like just another day, this extra day can serve as a unique and opportune moment to embark on essential endeavors. One such significant undertaking is initiating the estate planning process. In this blog, we’ll explore why the leap year’s additional day is an ideal starting point for creating a comprehensive estate plan.

Time Is of the Essence:

The leap year gives us an additional 24 hours, an extension that many of us don’t typically get. Use this time wisely to begin the estate planning process. Life is unpredictable, and having a plan in place ensures that your wishes are respected, your loved ones are cared for, and potential complications are minimized.

Reflect on Your Legacy:

The extra day offers a chance for reflection and introspection. Take the time to ponder your legacy and what you wish to leave behind for future generations. Estate planning is not just about finances; it’s about preserving your values, passing on your wisdom, and leaving a positive impact on your loved ones.

Addressing the Uncomfortable:

Estate planning involves making decisions about the distribution of your assets, healthcare preferences, and guardianship of dependents if applicable. These discussions can be uncomfortable, but the leap year’s additional day provides an opportunity to confront these matters head-on. Use the time to communicate openly with family members and ensure everyone is on the same page.

Ensure Your Wishes are Known:

Without a plan in place, the state may determine how your assets are distributed and who makes decisions on your behalf. By starting your estate planning on the leap day, you take control of your legacy and ensure that your wishes, not default legal processes, dictate the future.

Professional Guidance:

Crafting a comprehensive estate plan can be complex, involving legal, financial, and emotional considerations. Take advantage of the leap year’s extra day to research and seek professional guidance. Consult with estate planning attorneys, financial advisors, and other experts who can help you navigate the intricacies of the process.

Flexibility for the Future:

Just as the leap year adds an extra day to the calendar, estate plans should be flexible to adapt to changing circumstances. Starting on the leap day allows you to establish a foundation that can be revisited and adjusted as needed throughout the years.

The leap year’s additional day is a gift, offering us an opportunity to initiate positive changes in our lives. Starting the estate planning process on this extra day is a proactive step toward securing your legacy, providing for your loved ones, and ensuring your wishes are known. Don’t let the leap day pass without seizing the chance to take control of your future and leave a lasting impact on those who matter most. Contact us at 248-409-0256 to schedule a complimentary initial consultation.

Matthew A. Ferri

About the Author

Matthew A. FerriJ.D., M.B.A., is the Founder and Principal of LifeFocus Planning, a Michigan based estate planning law firm. He is an estate planning attorney with offices in Bloomfield Hills, Michigan and Shelby Township, Michigan. His expertise includes advanced estate planning, elder law, Medicaid planning, Veterans benefits, special needs planning, and business planning. During law school, Matt focused his studies on business law while simultaneously earning his MBA. Matt started his own firm with the goal of helping individuals and their families develop estate plans that work. He received the rating of AV Preeminent® by Martindale-Hubbell: The highest peer rating standard. This signifies that many of his peers rank him at the highest level for professional excellence and legal knowledge.

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