Are There Any Negatives to Estate Planning?
Here’s something no one is talking about: the negatives of estate planning. Do any immediately spring to mind for you?
First, let me say that I’m not talking about the negatives of avoiding estate planning altogether or the consequences of bad estate planning. Those lists are a country mile long. I’m talking about if there are any negatives for people just like you who have a plan in place – having a will, trust, powers of attorney, and detailed healthcare directives.
Can you think of any? I racked my brain all week in anticipation of writing this blog post — not to mention the fact that this is what I do for a living. But even I couldn’t come up with any.
That’s because the answer to the question is a resounding “NO.”
There aren’t any negatives to estate planning. And if there are, you have to think outside the box. For example:
1. DIY estate planning still exists — In today’s technology-driven world, a person can go online, find a fill-in-the-blank template, and set up a Will or Power of Attorney quickly and affordably. The fact that these options exist is a travesty and a negative to estate planning. Not only do templates not account for your specific situation, but they will most likely be invalid in the eyes of the court when it’s all said and done if not executed correctly. There is no cookie-cutter solution to account for your unique life. Hire a qualified estate planning attorney who can draft your Will correctly.
2. Not picking the right attorney — Not having the right estate planning and probate attorney in your corner can absolutely be a negative of estate planning. Thankfully, I don’t know many bad attorneys out there. Most of us have your best interests at heart and want to cover all your bases. Here are a few questions you can ask an attorney before hiring them.
3. The legal process moves slowly — Even the craftiest of estate plans may be unable to avoid the legal process, especially probate. If you keep this in mind and partner with a qualified attorney, you can limit your time in court.
Beyond that, having an estate plan is a win-win for everyone.
What is estate planning?
Estate planning is the legal act of putting your affairs in order to ensure your wishes are carried out, family is protected, and wealth, wisdom, and assets are passed on as efficiently as possible after you die or become incapacitated. Having an estate planning attorney in Denton, Texas, who can help you look at the big picture and guarantee that your plan always works in your favor is critically important. Just a few of the documents we offer include:
• Power of Attorney (medical, financial, durable, etc.)
• Declarations of guardianship
• Burial directives
• Advanced healthcare directives
• Medical authorizations
• Special needs trusts
• Deeds for real property
Estate planning attorneys are there to use our expertise and compassion to make that process easier. And the satisfaction I get when clients leave my office feeling a sense of peace about the future is something I’ll cherish forever.
Call Caitlyn Ashley Law Today!!
Having a plan for the future is the most important gift you can give yourself and your family. Granted, none of us will ever know what is around every corner in life. And just thinking about the what-ifs — what if I were to die or become incapacitated tomorrow; what if my child with special needs has no one to care for her; what if all my “stuff” isn’t passed onto the right people — can be overwhelming. Having a plan that accounts for your family’s unique circumstances, puts your affairs in order, has concrete solutions to your concerns, lays out your wishes, and protects your family’s future provides peace of mind for the road ahead.
Caitlyn Ashley Law in Denton, Texas, will counsel you on which documents are best suited for your needs and ensure they are flexible enough to meet your changing needs for years to come.