Make an Estate Plan – You’ll Feel Better

Let’s face it, estate planning is basically a meeting with an attorney where you’re required to contemplate your own death. It’s no wonder most people procrastinate on this one. It’s bad enough to have a self-induced existential crisis without a soleless court clown charging you by the minute for the whole thing. On the other hand, estate planning provides relief in the knowledge that the things you’ve worked very hard for in life will be passed on in the way you want. 

If you want to know what estate planning might entail, I suggest you consult the Internet. There are plenty of articles about wills, trusts, power of attorney, IRAs, life insurance, long-term care, and how to decide which child is your favorite. There’s no point in me repeating those same exercises. Instead, I want to help you work through a few excuses you’ve probably been making.  

1. “I’ll get it done later. I’m young.” 

Wisdom comes with age but – from what I’m told – thinking about the end doesn’t get easier. It’s probably best to make a plan now, while you have superior cognition and a good 20, 30, or 40 years to figure out the larger questions in life.  

2. “I’m single” or “I’m going to wait until I’m married.” 

Maybe you’ve met the love of your life and you’re enjoying a long engagement. Maybe you plan on being a bachelor or bachelorette for the rest of your days. You think you don’t care where your money goes, but: (1) do you want your parents to inherit everything you own; and (2) do you want them to have to deal with the logistics of your estate on the fly? 

Your fiancé doesn’t get your stuff just because there’s a ring on it. Your estranged parent isn’t barred from getting your stuff just because they’re a jerk. Even if you get along swimmingly with your folks, do you really want them to have to figure everything out on their own? 

3. “My kids will just figure it out.” 

Remember when your kids broke the bathroom door at 7:45AM on a school day because one of them didn’t have enough mirror time? Do you remember that car ride on that trip to that place where they screamed at each other for hours on end? 

Yes – they’ll probably be mature, grown-ass, middle-aged adults by the time you move on. Yes – your passing will likely be an opportunity for them to bond with each other. Let that bond grow over the review of old photo albums and the recollection of fond memories. Don’t let that bond be over a mutual hatred of your poor planning. Please leave that sort of hazing to middle-school sports coaches. You’re better than that.   

4. “I don’t have much anyway” 

Sometimes scarcity makes things even more precious. It might be wise to make a plan that protects what you do have. Also, if you’re making this excuse and you’re under 70, please refer back to excuse number 1. You’ll probably have more when you’re older. You might as well make a plan now. 

It’s Time to Make A Plan

I’m excited to announce that, beginning in June of 2023, I’ll be offering estate planning services to clients in Washington. If you’re ready to bite-the-bullet so others can be ready for when you bite-the-dust, you can fill out my online form here. Initial consultations for estate planning are free. Flat-rate options are available for the production of simple documents and can be found here.

— Tyler O’Brien —