Question: We need a will. Why do you keep talking about an estate plan?

There’s a lot more to planning for the inevitable than just a will. According to the AARP, roughly 60 percent of Americans do not have a will, which is a shame because of how useful a will can be.

However, when I do an estate plan for a client, it also includes Power of Attorney documents for both medical issues and property issues, a declaration of guardianship preference, HIPAA release, and more.

An estate plan isn’t just for when someone goes on to their great rewards. Rather, it should include planning for future medical issues, aging problems, and so on. It empowers the people you love and trust to make the decisions that you need.

We can also discuss probate and ways to potentially avoid probate, as many assets can be structured to pass without court intervention, including real property. If structured properly, the will may not even have to be probated and can merely serve as a catch-all. Also, having an estate plan can keep families out of disagreements that can destroy relationships forever.

While probate is often a straightforward process, structuring things to pass outside of probate can not only save money on court costs and attorneys’ fees but also make the process of dealing with asset transfer during a period of extreme grief.

Many people simply fail to make an estate plan because they just do not get around to it. If you’re looking for a New Year’s resolution, this is an easily attainable one that can have significant benefits in the future. To prioritize your family and future, give me a call to discuss your options.