Brandi Planet Confesses What's Wrong With Her Estate Plan

I have a confession. There’s something very wrong with my estate plan—I don’t have one in place.  I drafted my plan, but I keep changing my mind about things. Are my beneficiaries the right people to inherit from me? Is it better to set up a scholarship in my name? Should I put stricter provisions in place to ensure no one squanders any gift I leave them? Did I put the right people in charge of my financial and healthcare decisions? Who will be my witnesses at the trust signing? What should I even name my plan?

 The truth is that these are just the excuses I’m giving myself to avoid having to confront the inevitable fact that one day I won’t be here.  But putting off completing my estate planning isn’t going to change that. What putting my trust off can just about guarantee is conflict among my family.  Certain people may have different ideas about whether or not I should remain on life support, whether I should be cremated or buried, whether or not I should receive nutrition in the event of dementia or even how my life should be honored. My family may end up fighting over my property. In fact, I have separate property that rightfully goes to my siblings, but without something in writing, no one but me knows that. If something happened to me today, there is nothing to ensure my wishes are carried out. My family then has to guess and hope that they’re making the right decisions.

 I’ve seen what happens to people firsthand when there is no plan in place or when there is a poor plan in place. Families are torn apart. Thousands upon thousands is drained from the estate due to legal fees and court costs. Loss of estate assets happens even if there’s no conflict because the probate process takes time and money to complete. I don’t want my family to be burdened any more than necessary in the event of my death or incapacity. However, the only way I can protect my wishes, my legacy and my family is to have a written plan in place.

 I know I’m going to get my plan done. I know I’m not the only one who needs to get an estate plan in place. What do you say? Can we hold each other accountable?  

 Let’s talk about what you can do to leave one of the greatest gifts to your family after you’re gone. Contact me at brandi@exdomuslaw.com or at (702) 340-9227 to discuss the best plan for you.