I almost always recommend that every adult seek the guidance of an estate planning attorney when getting their affairs in order, i.e., writing a will, creating an estate plan, etc. That said, I will admit there are three relatively unique situations when my assistance isn’t needed.
Situation #1 You genuinely don’t care about your heirs. In fact, you wish them ill. You know, when you die, they will be thrown into a terribly stressful situation trying to sort out all your assets, investments, titles, deeds, and more. Probate court will be part of that, costing them time and money and delaying whatever inheritance they might end up with. It will be ugly, and they will likely say nasty things about you. But if that is your goal, to hurt them, go ahead—no assistance needed from me.
Situation #2 You are a “rental or lease” person. That includes every aspect of your life. Rental apartment (filled with rented furnishings), leased vehicle, sparse wardrobe, no souvenirs or cherished antiques, and no investments or savings accounts. You spend every dime you make as quickly as you make it. In other words, you own NOTHING. When you die, there will be nothing left to be disposed of. In this case, and I have never actually met anyone who lives like this, you don’t need me. Well, you should still have a living will and healthcare directive, but if, like the person in Situation #1, you don’t care for your heirs much, you can leave that alone. So what if your relatives don’t know what your wishes might be if doctors have to decide about end-of-life medical treatments, like putting you on life support? And without a will (called dying intestate), your heirs will have to go through probate, but it probably won’t be too awful considering you have no assets—just their time and effort. So, in summary, you don’t need me, not really.
Situation #3 You have discovered the secret to immortality. I realize this is farfetched, but it does seem that about 50% of the adults in the US are somehow under the illusion they won’t die because they don’t seem to think they need a will. So, if you’ll never die, there is no need to work with me on your estate plan to ensure your hard-earned assets and loved ones will be protected. I guess you don’t need the healthcare directive either. Your loved ones will never be in a terrible situation where they are forced to guess what you would want … life support or no life support, for example.
In conclusion, I wonder how many adults might fit in either of the three situations I’ve outlined. I suppose some may find that Situation #1 resonates with them. They have an acrimonious relationship with all their heirs and enjoy the notion of “doing harm” when they die by putting the individuals into a difficult situation. I guess these individuals would be happy to think of that as some revenge. Situation #2 is really not likely, is it? There may be a few young adults just starting in their careers who might fit this description. Still, over time, most of us accumulate assets – a house, a vehicle, a savings account, etc. Even if you don’t have much in the way of assets, someone needs to make decisions regarding their distribution when you die. If you don’t proactively do that via a will and other legal documents, the courts will do it for you. The problem with that is that the court may hand it all off to what they consider the “closest” relative – who may be the sibling you haven’t seen or talked to in decades. Is that what you want? Wouldn’t it be better to have your assets go to a friend or a favorite charity? I would think so.
Last, being immortal is, well, just not possible. At least not yet. So, no one should act like that is their situation. But I have never believed that people who don’t have wills believe they will live forever. I think it is because they don’t want to think about dying. Or maybe they don’t want to go to the trouble of deciding who gets what. Or they are concerned about family members’ reactions to certain decisions. Or any of a myriad of other reasons. But I can assure you, having your affairs in order, and working with an estate planning attorney like myself will give you peace of mind. It’s amazing. My clients feel a sense of tremendous relief knowing they have done what they could to protect their assets and their loved ones.
So, assuming you are not in any of the three situations I’ve described, please call me at 513-399-7526 to schedule a consultation to update or create your estate plan. You can also go online to www.davidlefton.com and schedule our meeting there.