Feng Shui is more than a method of organizing. Its principles promote financial stability, harmonious family relationships, and good health. It’s about balance in a life that’s constantly changing. You can apply some of the same principles to your estate plans. One of the most important steps you’ll take, estate planning should also be adjusted to the changes in your life.
Our lives consist of many parts that sometimes seem to be in a constant state of flux. Kind of like the feng shui Yin and Yang symbol represents both steadiness and yet also constant change.
Adding to your life, either through a birth or marriage, means it’s time to rearrange the ‘furniture’ of your estate plan. Not only do you need to add your new person’s name to your documents, you may add language about guardians. As you make your plans, you’ll be thinking not of your death, but of your loved ones and how they will face the future.
When someone leaves your life, your plans will be modified, too. Your plans should stay in sync with your status. Wills are sometimes presented for probate filled with specific bequests to people who have been dead for years. Or the executor named in a Will passed away 10 years ago, but the testator never got around to righting the imbalance between life events and their plans. Divorce often causes great challenges, personally and financially.
Buying property or being promoted at work might alter your financial status in ways that then trigger modifications to your estate planning strategies. If there’s been a great increase in your net worth, you may need to consider advanced estate planning. Maybe it’s time to consider establishing and funding one or more trusts.
People sometimes speak of the “ties that bind” a family together. In feng shui, Chi is an energy that binds life together.
A comprehensive estate plan binds life events and your needs into a plan designed to benefit you and your loved ones. Your Will arranges for your property to be distributed and for your children to be properly cared for if the need arises. A durable power of attorney ensures your financial and legal affairs will be handled by someone you’ve chosen. And your advanced directive, even though it may be depressing to think about, takes care of your needs and your family’s needs at a very stressful time.
Have a Balanced Approach to Estate Planning.
As your life changes, it’s important to maintain balance in your estate planning.
At the Dillon Group, PLC, attorneys help clients achieve estate planning that meets their individual needs. Schedule an appointment by calling us at 757-962-4796 or completing our Contact Form. Our main office is located in Virginia Beach, Virginia, but we also assist clients in Newport News and surrounding communities.