Most people get some time off work over Christmas and the New Year. If you have not yet made an estate plan, you could use some of this time to start thinking about yours. Then, once the holidays are over, you can get help to put it all in writing.
Here are a few things to remember to help you:
Small matters can sometimes get out of hand at Christmas
Spending an extended amount of time with family can be difficult. Many families have falling-outs at this time of year, often fuelled by the alcohol that may flow freely. Be careful not to alter your estate plans due to something that went on without allowing a bit of time to put whatever happened in perspective. Maybe your eldest child was unbearable when you went over for dinner.
That does not necessarily mean you should leave them out of your will. Maybe there is an explanation for their behavior – perhaps they felt under pressure to present a perfect domestic image to you when their marriage was secretly disintegrating, for example.
You can use the time to speak to others about your estate plan
If you have a collection of jewelry you intend to split between your daughter you could use the time together to ask which particular pieces each would like. You could grab a moment to ask one of them to be your executor or power of attorney, and if they accept, take the opportunity to explain your choice to the others.
Hopefully, this Christmas will be just one of many you can look forward to. However, it could be your last, so make putting an estate plan in place or updating an existing one a priority up there with all those other things you have to do this Christmas.
