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One key to estate planning is an early start

When it comes to the estate planning process, your location does not matter nearly as much as when you start. You could be one of our Texas readers or reside in another part of the country, but as long as you create an estate plan early in life you are going to feel good about what the future holds.

There are many reasons why it is essential to get started with estate planning as soon as possible. Not only will this allow you to feel good about your current situation and what will happen down the road, but it can help minimize arguments among children.

Since everybody is in a unique position, it is important to focus on the aspects of your estate plan that are most important. For example, you may have multiple children, all of whom you have to consider during this time. Are you going to leave more to one child than another?

Another thing to consider is whether or not you may leave behind somebody with a disability, such as a child. In this case, the way you approach estate planning is not going to be the same as somebody else.

Although it would make it much easier, there is no one size fits all approach to estate planning. There are emotional challenges to overcome, as well as many financial details that need to be taken care of without delay.

Regardless of your situation, the sooner you start with the creation of your estate plan the better off you are going to be.

Source: WCSH, "For best results, start estate planning early" Kacie Yearout, May. 09, 2014

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