To Parents Who Avoid Preparing Their Estate Plans ...
If You Don't Have Your Ducks in a Row Yet, You Are Not Alone.
If the thought of writing a will or preparing your trust brings about anxiety or triggers your procrastination tendencies, you are definitely not alone.
Most parents mention that it took them quite a while to finally get their estate plan organized because they felt uneasy thinking about the inevitable.
Whether it’s the selection of a guardian for minor children, or who to pick as a trustee of the estate, it may appear to be a daunting project at first, but one that quickly comes to the forefront of urgency when something unexpected happens.
The sudden passing of a loved one raises all sorts of emotional and logistical turmoil – sometimes to the point of family feuds, missed payments, and unnecessary attorney’s fees.
For parents, it also shakes us at the core, when we think about how our children might be affected if something were to happen to us.
The What-ifs in Estate Planning
What if our procrastination leads to a guardianship proceeding, where we no longer have a say about who will care for our minor kids?
What if our anxiety leads to a conservatorship proceeding, where our own incapacity leads to confusion, loss of control and family disputes?
What if the quick self-help will and trust documents are not valid upon our passing and all our plans are affected?
The what-ifs keep cluttering our thoughts as we witness the passing or incapacity of a friend or loved one, and then we freeze and hopefully ponder.
Adjust Your Mindset and Ask These Questions Instead
Do I have a properly drafted and funded trust, will, power of attorney, and advance health care directive?
Are my estate planning documents up to date? Are they valid? Is my trust properly funded?
Have there been any new life-events that might affect the previously drafted will?
What will happen to my retirement funds when my children reach the age of majority?
These are examples of some helpful questions that are better answered sooner than later.
Instead of waiting for a tragic passing of a family member, let’s be proactive as parents and address these important questions now.
If you already have an attorney who does estate planning, then now is the time to reach out to them and schedule an appointment. And if you don’t, begin looking for someone now.
Feel free to reach out to me at 805-424-3131 or visit www.interplaylegal.com to book your free connection call. If after our first conversation we both feel that an attorney-client relationship would be a fit, then I offer a subsequent one-hour complimentary consultation to discuss your options, fees, timelines, etc. My practice focuses on Estate Planning and Debt Relief Solutions, and I look forward to hearing from you.
Please note that this blog post was for informational purposes only and does not intend to create nor does it create an attorney-client relationship. Nothing in this post is meant to provide legal advice.