Article 115-Estate Planning Series: The Questions Your Estate Plan Should Answer 

Written by Wright Law on . Posted in Estate Planning

“An ounce of prevention is worth a pound of cure.”  Nowhere is this more true than in my professional world. 

A crisis can arise in many ways.  The most obvious example is the unexpected passing of a loved one.   But what about a stroke, a serious fall or even the diagnosis of a life altering health condition? At that point, important options may evaporate. 

Recently, a client’s family came to me after a loved one was in a serious accident.  His precarious condition and the medications left him unable to make decisions or to handle his affairs.  But decisions still have to be made.  Who has the authority to make those decisions? 

When clients come to me in a crisis situation, we do everything we can to assist in a cost-effective and compassionate way.  However, there are usually far fewer options available at that point.  Those options are typically more costly because they require immediate and dramatic action.  However, if I can help people be educated about these issues before a crisis arises, it is much more likely that they will be prepared and protected from the issues that concern them most. 

It is not true that estate planning must be expensive or complicated.  But proper estate planning should ask questions that may be challenging.  For example, what happens if one spouse suddenly becomes incapacitated?  Who will take care of the incapacitated spouse if the other spouse passes first?  How can spouses (or a surviving spouse) ensure the estate they spent a lifetime building is properly used after they are gone?  These are not necessarily easy questions to consider. 

It is the willingness to address uncomfortable questions, before the issues arise, that allows for solutions many people do not even know exist.  Unfortunately, those options may disappear once the problem arises.    

Come to a presentation to learn about the questions to ask and the options available to you. 

© 2017 Steven J Wright 

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