Estate Planning For Seniors: Q&A Part 1
What’s in Your Glove Compartment? – Part 1
Your vehicles glove compartment holds the key to your car’s lifestyle. Where do you find your quality of life road to success?
Curious….What is it about the term Estate Planning that makes an otherwise rational person procrastinate about personal incapacity and end of life decisions? It is the ultimate family game of resistance, ambivalence, and defensiveness. We’ve all heard the excuses….
- It will all work out because I have raised my family to all get along.
- If they know how much I have, they will want me dead.
- It is none of their business and I must stay in control until I am gone.
- My assets are not significant enough to matter.
- I will be dead so I do not care what happens after I am gone.
Being incapacitated or dying without expressing your wishes in writing can easily throw those who love and care for you into a state of chaos. And it can allow trouble form the bully, the self righteous one, the disturbed one, the one who never felt loved by Mom or Dad, or the who has a gambling or drinking problem. This makes the thought of family governance a nightmare and the only winners are the attorneys who have to litigate the resulting conflict.
Well, what do we know?
- The odds are at some point down the road of life, you will become incapacitated and unable to act on or make decisions that impact your quality of life.
- No odds – at some point, you are going to die.
How do you take steps to prevent the problem and plan for the remainder of your life?
You are best served by engaging a competent attorney to work with you on your specific, personal, tailored estate plan. Or, as I like to say, Your Life Plan.