5 Tips to Start Your Estate Planning Today

No matter your age or financial situation, you need to be financially prepared for the inevitable.

Estate planning can seem daunting and overwhelming. It may even conjure up negative emotions for some. Perhaps that's why an estimated 64% of Americans don't have a will or any type of estate plan in place. Unfortunately, that means a majority of the population is at risk of leaving their families or business partners a great deal of work should anything happen to them. This includes seeking out documents, hiring lawyers and involving the court system to sort through all that is left behind.

While it may seem easier to neglect taking responsibility and let things fall through the cracks, estate planning is essential for everyone, regardless of your age, family ties or business situation. Putting a plan in place can ensure your assets are properly handled and family members are taken care of should something happen to you.

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Taylor Schulte, CFP
Founder and CEO, Define Financial

Taylor Schulte, CFP®, is founder and CEO of Define Financial, a fee-only wealth management firm in San Diego. In addition, Schulte hosts The Stay Wealthy Retirement Podcast, teaching people how to reduce taxes, invest smarter, and make work optional. He has been recognized as a top 40 Under 40 adviser by InvestmentNews and one of the top 100 most influential advisers by Investopedia.