We really like this quote by Alan Lakein “Planning is bringing the future into the present so that you can do something about it now.”  In short, that is what an Estate Plan does for you.

As we have discussed before in our 7 Must-Have Estate Plan Documents, no matter what your economic status you should have an estate plan to protect your assets, whatever they may be, for yourself and your family.  Everyone’s estate is different yet the same.  Your estate might include personal possessions, real estate, vehicles, cash, investments, etc.  But at the end of the day, your estate has a similar make-up to others, it just might be larger than some or smaller than others.  So, if you want your assets to be distributed to your loved ones as you wish them to be, you need an ESTATE PLAN.

What is an Estate Plan?

  • Documents that protect your assets and yourself.
  • Official record of how you want your estate to be distributed and resolved.
  • Direction for how to manage your assets during your life and after you pass.
  • Guide to caregivers for managing your healthcare issues should you become incapacitated.
  • End-of-life plan expectations and administration directives, see How I Should Communicate My End-Of-Life Plan.

5 Reasons Everyone Needs an Estate Plan

  1. Your plan will include the 7 Must-Have documents. If you have taken us seriously and prepared these documents, you have taken a monumental step in creating your estate plan.  You have decided who you want to be your executor; who will be your beneficiaries; the guardianship of your children, dependents, and pets; how you want your assets distributed and to whom; how you want your healthcare to be managed if you are unable to do so; who will manage your assets and make estate decisions on your behalf if you become incapacitated and identified the issues that need to be resolved to settle your estate. All of this can be completed with a Life Estate Organizer- LEO
  2. It is all about protecting yourself and your loved ones. Your estate plan will provide for you to live your life, with a solid financial plan, to have ample resources to carry you through the latter stages of your life.  As well as having a plan on how to minimize the tax burden for your loved ones when those remaining resources will be made available to them upon your death, to carry on your legacy and ensure a good life for your loved ones.
  3. Deciding now gives you the say in who receives what, rather than a court of law. In your estate plan, you decide who will be your executor and carry out your wishes, who receives your assets, your personal belongings, etc.  You have determined what you have and who will get it upon your death.  Your decisions to accomplish this while you were still living shows responsibility, kindness, caring, and prevents dissension among family members and friends, etc.
  4. Helps to prevent a family mess. You have heard the horror stories before about people on their deathbed and the doctors doing their best to keep the person alive, without a loved one having the ability to say “STOP!!”  This is not what my Loved One would want to have happen.  This could be prevented by an Advanced Healthcare Directive.  Or the deceased never created a Last Will and Testament (LWT) and the family tears itself apart trying to decide who gets the money and in what amount, who gets the wedding rings, etc.  As a result, family members do not speak to each other ever again or for many years.  Of course, an LWT does not guarantee this will not happen but it certainly sets the stage for a friendlier disbursement.
  5. Gives you Peace of Mind. You benefit personally from having the peace of mind of knowing that you’ve taken care to protect your loved ones from the difficulties of making decisions on your behalf without your input.

Get Started Today!

If you want your assets and loved ones to be protected; if you want someone to execute your wishes as you would want them executed; if you want your estate resolved in an efficient, timely manner and to your satisfaction and you want Peace Of Mind knowing all of this will be accomplished then you must take the first step!

Sign up for a LEO subscription. It’s FREE for 30 days so you can try it out and then enjoy 20% off an annual subscription with our #Staycation Discount* and pay only $4 per month or $48 for 12 months.

Your LEO account allows you to upload and input all of the content that would be contained in all of the end-of-life and estate planning documents… plus! Everything including pictures, recipes, memories, and more can be secured in your private LEO account. Check it out today and follow us on Facebook to keep up with the latest LEO news and tools.

*Offer expires August 31, 2020