I’ve said it before, I’m not a fan of New Year’s resolutions. We all know most resolutions are broken, leading to a lot of guilt and self-loathing. I don’t wish that on anyone. So this first post of 2026 will not be about resolutions. Instead, what I do want to focus on are priorities, your priorities – right now. What is most important to you? What keeps you up at night with worry? Whatever it is, estate planning is likely to play a pivotal role. For example, while I won’t pretend to know what your priorities are, I will guess that some of you might say they are your:
- Children (Minor)
- Spouse or life partner
- Health
How can estate planning, or lack thereof, play a role in each of the above?
MINOR CHILDREN
If you have minor children, it is not enough to love them; you must also care for them. Further, it is not enough to make a good home for them, send them to a good school, provide nutritional meals, and keep them safe from danger at all times. Yes, all this is necessary, but you MUST also make sure you have made arrangements for them regarding guardianship in the event something happens to you. And this guardianship must be legally documented. It is not enough to think or say, “If I am in a car accident and die, my sister (brother, whoever) will take the kids.” If you do not have specific instructions about this (and your kids’ other parent is no longer living, is deemed unfit, or has been killed in the same accident), the court will decide who will raise your children. And maybe it is not who you would have chosen. Or perhaps it will be. But is that something you want to leave to chance for your kids? I would think not. Your responsibility to your young children goes beyond love and material things … it includes ensuring their well-being if something happens to you. And that is where estate planning comes in.
SPOUSE OR PARTNER
Whether you are married or have a life partner, presumably you love that person, so you owe it to them to have your affairs in order in case you die. It is that simple. Dying without a will is bad, especially bad if your loved one is a partner and not a spouse. But even if you are married, die without a will, you have still left a complicated, potentially expensive situation for your spouse to deal with. And if you haven’t included essential documents in your estate plan, like medical directives or a living will, you may be putting your spouse in a tough, emotionally painful situation. All in all, whether married or in a life partnership, make sure you have an up-to-date will, a living will, a medical directive, and a financial power of attorney. Your loved one will already be grieving; don’t make things worse for them by leaving them without direction. Estate planning is the key.
HEALTH
I hope for your sake that you are in good health and looking forward to a long life. But if you are experiencing health issues, or frankly, are approaching your senior years, now is the time to get your affairs in order, for your loved ones. It just makes sense. No one knows what tomorrow will bring, but if you don’t have an estate plan or if it is woefully outdated, consider taking steps to fix that. It doesn’t mean you’re going to die soon. It means you care for your loved ones so that if that should happen, you thought enough of them to have all your “ducks in a row”. What do you want to happen if you become incapacitated? Where is the information about your financials? How do you want your assets distributed? Take steps now to complete your estate plan, then focus on taking care of yourself to ensure a long and happy life.
So no resolutions. Let’s just focus on your priorities and take steps accordingly. I can virtually guarantee you, once you have your affairs in order, whether that is a will, established guardianship for your young children, or completed the appropriate legal documents (medical directives, living will, etc.), you will enjoy enormous peace of mind. You’ll rest easy knowing you’ve taken the proper steps and demonstrated how much you care for your loved ones. Please call me at 513-399-7526 or visit my website www.davidlefton.com to schedule a meeting to discuss your priorities and estate planning needs.