Let’s face it, staring mortality in the face is one of the most difficult things we are called do. We all know we’re going to die at some point, but it’s sobering to make the decisions that are to be carried out at end of life.
Estate planning may not be fun, but it is necessary if we want to protect our family and assets. Steve and Yvonne Smith were hesitant to begin estate planning. Steve summed it up by saying, “I guess it just made us uncomfortable. It feels like yesterday we were young adults just starting out in the world, and now here we are, planning for death.”
According to Forbes, part of the challenge of estate planning is the sheer number of questions your attorney will need to ask in order to best serve you. Among the questions you can expect to be asked are:
- Who do you want to raise your children if you both die?
- What if your family all dies in a common disaster (sometimes referred to as the “God Forbid Clause”).
- Have you told me about all the important relationships in your life (or do you have a secret lover and/or child I need to know about)?
- Are there any other descendants you have not mentioned (you know, people who can make your funeral a truly uncomfortable place to be)?
- Are you transgendered (due the legal ramifications that need to be covered)?
- Do you have genetic material on ice?
- Do you ever make large gifts to others (just in case you want to continue that support after death)?
- Who is going to adopt your pets upon your death?
- Do you have a prenuptial or postnuptial agreement?
- Under what circumstances do you want the plug pulled?
- Do you have any serious or chronic health issues?
You might be surprised at the number of adults who cannot bring themselves to decide upon a guardian for their children or discuss private health issues. Steve and Yvonne Smith say they felt sick when it came time to name a guardian for their two boys. The very idea of someone else raising their children was enough to put them off of estate planning for several years. According to Yvonne, it was only when she realized that if they did not name a guardian, a judge would make the decision for them, that she and Steve called their attorney.
There is nothing about estate planning that is easy, but knowing you have your plans memorialized can help you rest better at night. Give is a call when you’re ready. Better yet, give us a call today at (888) 838-8771.