Introduction: As we step into the new year, many of us are setting resolutions and goals to make positive changes in our lives. Whether it's improving our health, advancing our careers, or achieving financial stability, setting effective goals is key to success. At Ard Law Firm, we believe in the power of SMART goals – Specific, Measurable, Achievable, Relevant, and Time-bound – not only for estate planning but also for enhancing our daily lives. In this blog post, we'll explore how to apply the SMART framework, helping us create a roadmap for success in the new year.
Setting SMART Goals for Estate Planning: Each year, Caring.com studies American estate planning habits and attitudes. In 2023, they found just how important it is to ensure future generational wealth with a solid estate plan. But the main reason Americans haven’t gotten their affairs in order is simply procrastination. When it comes to estate planning, setting SMART goals is crucial for ensuring that your wishes are carried out and your loved ones are taken care of. Here's how you can apply the SMART framework to your estate planning goals:
Specific: Clearly define what you want to achieve with your estate plan. This could include outlining how your assets will be distributed, specifying guardianship for minor children, avoiding probate, or outlining healthcare preferences. Ard Law Firm’s comprehensive estate planning packages cover all of the above and are fine-tuned to the unique goals of each of our clients.
Measurable: Make sure the progress of your goals can be tracked, this is easy if you’ve made a specific goal. For example, if you want to take steps to preserve your legacy, work with your attorney to outline each stop of the process.
Achievable: Your estate planning goals should be realistic and attainable. Consider your current financial situation and the overall timeline of your year. Don’t try to get everything done in one week—that’s not a realistic expectation for comprehensive legal work.
Relevant: Ensure that your estate planning goals align with your overall objectives and values. Your plan should reflect your priorities and what matters most to you.
Time-bound: Set a timeline for when you want to achieve each aspect of your estate plan. This could include deadlines for creating a will, setting up trusts, or updating beneficiary designations. And don’t forget to look at your 2024 calendar—got a surgery scheduled? Many folks use such an appointment as a reason to bite the estate planning bullet, but be sure to give us a call 2 months before the procedure so you don’t make important decisions in a rush.
January is “Get Organized Month":
When we think of getting organized, images of labeled bins and color-coordinated closets come to mind, but organizing your financial and legal life is just as important as having de-cluttered cabinets. By setting specific, measurable, achievable, relevant, and time-bound goals, you can take meaningful steps towards a more organized life that will benefit generations to come.
Welcome in 2024 by committing to SMART goals that will not only benefit your next phase of life, but the future of your loved ones. By following the SMART framework, we can create a roadmap for success that will help us achieve our objectives with clarity and purpose. Whether it's securing our legacy through estate planning or improving our personal habits, SMART goals can guide us towards a more organized and fulfilling future.
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