The Fidelity Investments website states that “although estate planning can be a complex task, a well-informed plan can make a big difference in what is left for your loved ones.”

There’s no time like the present, so why not make 2017 the year to get your financial house in order?

In order to take action, it’s important to create a plan to address your specific needs. Working with an attorney to create the appropriate documents and to consider the implication of your various options is imperative. An attorney that specializes in estate planning can help you clearly communicate your wishes, avoid probate (a costly and public process), minimize your estate taxes, and revise your plan as needs change in the future.

Well worth the cost and time, tailored planning can result in significant savings.

Tim Borchers of Borchers Trust Law Group in Medway, Massachusetts says, “New clients often say that they do not have an estate plan. Most people are surprised to learn that they actually do have a plan. In the absence of legal planning otherwise, their estate will be distributed after death according to Massachusetts’s laws of intestacy. Of course, this may not be the plan they would have chosen. A properly drafted estate plan will replace the terms of the State’s estate plan with your own.”

For more information about when you should plan your estate, click here.