By Elizabeth A. Caruso, Esq.
Instead of a Myth or Fact, this month, in honor of Thanksgiving, I’m going around the figurative dinner table to say why I am thankful for estate planning.
I’m thankful that a proper estate plan can keep my clients out of the probate court. While for me, as a professional, the probate court process is not a daunting process, I fully understand that it can be stressful and overwhelming to most people. Making sure that assets have proper beneficiary designations and/or are properly titled into trust can avoid the unnecessary stress of the probate court. Having powers of attorney and health care proxies in place prior to any potential loss of capacity can keep the stress of the probate out of the lives of your loved ones as well. The bottom line is a well drafted estate plan can significantly reduce the chances that you or your loved ones end up on probate court.
I’m thankful that an estate plan can speak for my clients when they cannot speak for themselves. Maybe you always wanted your granddaughter to have your special heart locket, or you want your son to have your painting of a mountain landscape. More importantly, you know that you want your sister to raise your children if something happens to you or your partner. How would they know these things if you did not communicate them in some way? A proper estate plan includes these specific designations. If you are the parent of minor children or the guardian of someone who is incapacitated, you can specifically name who will continue the job for you. If you have specific personal effects you know you want to be distributed to specific people, you can list that out so that your wishes are carried out. A clear estate plan won’t leave your family guessing what you wanted after you are gone.
Lastly, I’m thankful that estate planning gives my clients peace of mind. Many people walk into my office very intimidated by the estate planning process, but by the time we sign their documents, they are so happy they completed the process. The reduction of stress and anxiety when estate planning documents are signed is often palpable. Clients know that we have covered their bases should the worst-case scenarios arise and that their loved ones will have the proper tools to tackle the administration and distribution of assets in a manner with as much stress reduced as possible.
An elder law attorney can carefully craft your estate plan to your specific needs that will make you thankful that you went through the process.
About the Author: Elizabeth A. Caruso, Esq. is an attorney at Legacy Legal Planning, LLC, in Norwell. She has been practicing estate planning, probate, and elder law on the South Shore for more than a decade. If this article has sparked questions for you, please feel free to reach out via phone 781-971-5900 or email elizabeth@legacylegalplanning.com to schedule a time to discuss your unique situation.
