(Okay, “stupid” was a little harsh - but I needed an “attention grabbing” title).
Because, in fact, many (most) people I talk to have used some version of these to justify putting off thinking about how their loved ones would handle the necessities of their death should that most unfortunate event occur. Having an appropriate estate plan in place (even a simple Will) is an incredible help to our loved ones - it gives them the directions they need to navigate the necessities of our death - during a time when even small decisions are made profoundly difficult with grief.
"I/We don't have enough money or assets."
Estate planning isn’t just for determining how your stuff is split up. As alluded to, grieving family members do not want additional decision-making burdens such as trying to recall whether you wanted to be cremated or buried, or how to deal with your social media accounts. There are many, many issues that we can address in an estate plan that are not directly related to property or money.
Maybe you don’t have much now - but do you hope to? Our estate plans are meant to ensure that your basic intentions are followed even if you forget to update your plan - whether or not you go from being nearly broke to a multi-millionaire by the time you pass.
“I/we are too young to need it.”
Anything can happen, and who will take care of your kids/future kids if something happens to you? Who do you want making those decisions - you (now) or a stranger in a black robe (Judge) after it’s too late? This is heavy stuff to think of - but do you want your kids to go through the uncertainty of where they will live, while also grieving the loss of you?
Even if you don’t have (and don’t plan to have) children, why not have this adulting thing taken care of? Then you can bask in your superb level of responsibility, and rest easy knowing that your loved ones will have your clear instructions should it become necessary (seriously, the worst thing is to be sorting out a loved one’s disorganized estate and funeral/disposition arrangements while also mourning their passing).
“I don’t need one, because if I died, everything just would just go to my kids/spouse/family, right....?”
I contemplated using a facepalm emoji here (because of the *very expensive* probates that result from people assuming their situation was “super simple”) but opted to keep it professional.
Don’t assume that “everything” would go to your spouse or kids. The laws of intestate succession (super fancy term for dying without a will) are not always intuitive. It can become complicated depending on many factors that may or may not apply to your situation. And, even if you have a “super simple” estate - why would you want to make the burden of your death any more than it has to be? Give your family and friends a final gift - peace of mind while they grieve for their loss.
For a flat $150 consultation fee, you can at least know whether and what your situation requires for an estate plan.
We prepare ahead of time with information provided by you, so that we both receive value for our time and we can really discuss what you need without added pressure of a “sales environment.” We won’t sell you a $5,000.00+ trust if that isn’t what you need - and we don’t need to because of our value paid/value received consult policy
Breckan Law PLLC