Estate Plan

I am really mystified why everyone waits to do an estate plan until someone they know dies without one. Our firm is constantly dealing with huge family problems created by people who think they are going to live forever and then they die. Everyone is going to die, so why not do an estate plan? Most adults with a family get life insurace, disability insurance but neglect a simple will or trust. Then the family is stuck in probate court trying to get court approval to have funds to pay the bills. The probate court moves very slow and families sometimes fall on hard times during this long process. Additionally, with the economic crisis, it is hard to sell assets in a dropping real estate market or stock market because the process of court approval slows down any decision making and casues waste. This can all be avoided with a simple estate plan. I know this blog is self serving as our firm does estate planning, but it is really heart breaking to see all these situations almost on a dailey basis. Instead of going to vegas, spend the money on an estate plan and stop gambling with your family.

I will speak about the other big problem about who the kids live with when both parents dies and the family of each parent fight huge court battles over custody in another blog. Thanks for listening. Mark.