New Year's Resolution - Get Your Will Done - Estate Planning
Whenever I meet with a new estate planning client I like to take the time to know what brought them to finally sit down and plan the disposition of their assets at death (what many people call 'getting my affairs in order' or 'getting my will done'). Some decide to get their will done because of some event in their lives, a new baby, a new marriage, a new divorce, a recent death, an inheritance; while others have much more unexpected reasons for finally getting it all in writing.
For example, I met a client once who had an overwhelming fear that her grandmother's china collection would be separated at her death that she made elaborate provisions for it in a trust (I don't think she ever actually ate on it!). Another client came to me because they intentionally wanted to make the probate process miserable for their heirs, looking to me to make the most complex and inefficient plan possible so her estranged family would have great difficulty in getting at her property through the Probate Court (needless to say we sent her elsewhere for her tormenting plan). Yet other clients are motivated, even upon their deaths, by nothing more than saving money on taxes - what I call making Uncle Sam a lesser heir to your estate. I guess it is good to do what's legal to reduce your estate taxes, but some folks are more worried about the savings in tax than protecting spendthrift kids from them summarily blowing their increased inheritances. We are seeing more and more people getting their estate planning done, not to avoid probate or reduce estate taxes, but to protect their pets. I guess pets are people, too.
Whatever the reason to getting an estate plan done, it's truly the action of taking the steps necessary to complete a plan that matter, as without proper planning, incapacity or death can have many unintended consequences. GosselinLaw.com >
