January, a cold month, often brings to mind cozy nights at home by the fireplace with loved ones. Warm slippers, maybe a hot toddy, maybe watching a movie together. Sounds perfect, doesn’t it? Now – stay with me here, it also makes me think about estate planning. Crazy? No. Let me explain. I know estate planning, wills, directives, powers of attorney, etc., can be pretty dry and straightforward. And indeed, the paperwork and legal jargon can be daunting. Not the usual ingredients for “warm and cozy,” I know. But hear me out on this. When I work with my clients, we’re not just pushing papers around. Together, we’re building a plan, THEIR plan, customized to their needs and their loved ones. It’s a whole lot more than just avoiding probate. When we are finished with that plan, it may look like a stack of papers to the casual observer, but to my client, it is a clearly defined path forward for their loved ones. This is about love, about caring, about thinking and planning because my client doesn’t want to leave their loved ones a significant burden of “unknowns”. I can’t think of a more loving gesture than a thoroughly considered estate plan.
Don’t believe me? First, consider the peace of mind my client enjoys knowing that their affairs are in order for their loved ones. And while that is an excellent benefit of estate planning, I’m really talking about the “warmth and good vibes” their loved ones will experience, especially if the plans are shared in advance so there are no surprises. My clients’ loved ones won’t be burdened with unknowns, surprises, or perhaps serious disappointments.
Some examples of the kind of “warmth and good vibes” I’m talking about.
- Guardianship for your minor child – When you take the steps required to appoint a guardian for your minor child, you have effectively removed the turmoil that can and likely will occur if you don’t. When a parent (or parents) dies without having appointed guardianship for their minor child, the state will step in. They may not choose who you would choose. Your loved ones will appreciate knowing that you took the time to carefully consider (and ideally discuss) guardianship with potential candidates and to make your choice based on several factors. Some relatives shouldn’t be raising your children. Some relatives might be good at it, but they are terrible with money (there are ways to handle this situation). And let’s not forget your child. If they are old enough to understand what is happening, how will they feel if they know you didn’t bother to plan ahead for them? Conversely, how will they feel when they discover you did, and you did so with love?
- Arrangements made for beloved pet – We all have heard the stories about a senior dying, leaving a beloved pet behind. Adult children are often left with some “not good” options, like dumping it at a rescue or sadly having it put down. What a relief for those adult children to learn that their parent already put a plan in place for their pet? Already set aside funds for the pet’s care AND found someone willing to take the pet in. Feel the “warmth and good vibes” when that happens?
- End-of-life decisions – No one wants to think about what will happen at the end of life, but it will come to us all. I can tell you this: your loved ones will genuinely appreciate you providing a road map for them. Letting them know what you want, not leaving them to guess. Your direction on things like artificial life support (are you for it or not?), to cremation versus traditional burial. What a gift to give your loved ones; to not burden them with decisions that really shouldn’t be made by them. I know of people who “guessed” about the artificial life support decision for a parent and spent many years second-guessing their decision. Don’t do that. Give them the “warmth and good vibes” of explicitly telling them just what you want and don’t want. They will appreciate it and know how much you loved them.
Do you see how estate planning can really be much more than just legal paperwork? That, at its core, it’s really about your loved ones? I have provided estate planning services to clients for many years; if it were just about the paperwork, I’d have walked away years ago. I love what I do because I’m helping my clients create plans to protect their assets, but more importantly, their loved ones. It is genuinely a rewarding job. I’d be honored if you would allow me to help you with your estate plan. Together, we’ll make sure it is exactly what you want. Please call me at 513-399-7526 or visit my website at www.davidlefton.com for more information.