September 16, 2011
As a Sacramento will and trust attorney I hear the same things over and over….
I don’t have an “estate.”
I have more debt than assets…. or
The only thing I own is my home.
As you’ve probably guessed, these are excuses that people make every day for not having an estate plan.
They assume estate planning is only about money and therefore it does not apply in their situation.
Keep in mind though that no matter what your financial situation may be, there are decisions that will need to be made if you become incapacitated or pass away. And if you don’t leave behind detailed instructions about the type of medical care you want or what you want people to do with your things, you will be putting those you love in the position of being a mind-reader.
Your family will be forced to figure out what you would have wanted and then deal with the consequences of unhappy family members who may disagree with them.
Do you really want to cause this type of stress for your loved ones at a time when they are already upset and mourning? I doubt it.
Now I realize thinking about these things is not easy or fun, but approaching your estate plan in an organized manner may help. Here are a few things to consider when planning your estate:
These steps alone will go a long way in reducing the stress that your loved ones may experience. That to me is reason enough to do an estate plan, no matter how many assets or how much money you may have.
Of course if you still have questions about how to get started or you would like some more direction about planning out your estate, please feel free to call our office at (916) 241-9661 for assistance.