new years resolution

Why January is the Prime Time for Estate Planning 

Some people say “New Year, New You” but at Monteforte Law, we say “New Year, New Plan.” 

As we hang up new calendars and jot down resolutions we might (or might not) keep, let’s talk about why January, the start of a brand new year, is the absolute best time to get your estate planning in order. Sure, it might not be as fun as vowing to hit the gym more, but it's undoubtedly more impactful. So, grab a cup of coffee (or something stronger – I won’t judge), and let’s dive in. 

A Time for Reflection and Resolution 

January is synonymous with fresh starts and self-improvement. It’s when we reflect on where we've been and chart a course for where we want to go. Estate planning fits right into this mindset. It's about taking stock of your life – financially, materially, and relationally – and ensuring your affairs are in order for the benefit of those you love. Estate Planning and Wealth Preservation not only protects your assets and minimizes taxes, but it's also a gift to your loved ones, by making sure they aren’t left with a mess! 

Plus, let's be honest, resolving to get your estate plan in order has a much higher success rate (and is easier on the knees) than your average New Year’s fitness resolution! 2024 estate plan

Updating to Match Life’s Changes 

Life changes – sometimes faster than Netflix can ask if you're still watching. Maybe last year brought a new baby, a new business, or even a new marriage. January is the perfect time to reflect on these changes and update your estate plan accordingly. 

Think of your estate plan like your Facebook status – it needs to be updated to reflect your current life situation. You don’t want your ex getting that vintage car collection, right? 

Tax Laws and Financial Review 

The beginning of the year is also when we start thinking about taxes (cue collective groan). It's an ideal time to review your financial situation. This review can play a crucial role in your estate planning. 

Working with a professional can help you understand how the latest tax laws might affect your estate plan. It’s a bit like trying to read hieroglyphics unless you're an expert, but it’s crucial for maximizing the benefits for your beneficiaries. 

Setting Your Family Up for Success 

Let’s face it: discussing what happens when you’re not around anymore isn’t anyone’s idea of a fun time. But estate planning is fundamentally about making life easier and more secure for your loved ones. Doing this in January sets a tone of responsibility and care for the year. It’s a way of saying, “I’ve got your back,” without having to actually say it every day. 

And remember, estate planning isn’t just for the wealthy. If you own anything, congratulations, you have an estate. And if you love anyone, congratulations, you need an estate plan. 

So, as we step into this new year, full of hope and caffeine, let’s put estate planning at the top of our to-do lists. It's not just about ticking a box; it's about peace of mind, security, and setting up a legacy. And hey, once it’s done, you have the whole year to feel smugly responsible – that’s a win in my book! 

If you’re ready to start or update your estate plan this January, remember, there are two great ways to get started: 

Contact us at 978-494-5036 to book a Strategic Planning Session, OR, even better, attend one of our seminars HERE and get $500.00 off the cost of your estate plan! Let’s make this year count! 

Michael Monteforte, Jr.
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People come to me in trying times and when I tell them I can help them, the weight falls off their shoulders.
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