The Listen to Lawrence Letter: When should I start doing estate planning?
December 7, 2021
Dear Clients and Friends,
“When should I start my elder law planning?” is a very common question, like the one that follows:
Lawrence, as I approach my 73rd birthday along with my wife, who is also 73, (both in good health) we are wondering more and more when we should start thinking about protecting homeownership, transfers, trusts, investments, businesses, etc. Years ago I was told that 75 was the right age to start. Please advise.
It depends, but certainly before you die 😊 and certainly 5 years before you get sick. For some clients that is 62, for others, it is 82. What is your risk tolerance? More than likely, if you are asking the question, the time to start the planning process is NOW.
I hope this helps! Please forward this information to your friends and relatives to share these informative answers to some very commonly asked questions.
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As always, please send me your questions. If you are thinking about it, others are probably too, so my answers will no doubt help you and many others.
Let’s stay connected.
Until next time…
peace, health and happiness,
Lawrence Eric Davidow