One of the most common misconceptions in estate planning is assuming a basic Will is sufficient to preserve your legacy. Let’s assume you and your spouse have retired, you’ve paid off both your primary home and the shore house, and you have made solid investments. You may assume, like many families, that the Will you had drafted years ago is enough. However, many people find out too late that it isn’t the case.
An estate plan is not a legal formality, but a gift to your family. A thoughtful conversation goes a long way in protecting your legacy and ensuring that your loved ones can find the necessary documents at the most trying time. Meeting with an experienced Estate Planning attorney means you are taking thoughtful steps to update your plan. The attorney will help create a living trust, assign powers of attorney, clarify healthcare wishes, and most importantly, lay out everything so you can have conversations with loved ones and inform them of your wishes.
When a loved one passes away unexpectedly, this preparation will be significant. It will eliminate the scramble to find access to accounts, minimize probate delays, and there will be no confusion over medical decisions. In short, you should have everything you need to avoid the legal chaos.
And when you pass, your legacy will live on with clarity and peace. The lake house will stay in the family. The grandchildren’s education funded, and most importantly, the heirs can remain united, guided by their decedents’ clear wishes.
Is your plan up to date?
Estate planning isn’t just for the wealthy—it’s for anyone who wants to make life easier for the people they love. If it’s been a while since you reviewed your documents, now is a great time to start. We’re here to help.
