National Estate Planning Awareness Week: On the Hardest Day, Your Plan Will Be the Hand They Hold
National Estate Planning Awareness Week falls during the third full week of October. Congress created it in 2008 because so few Americans plan ahead, but any week this month is the right week to act on it. And we want to push the idea one step further: A complete estate plan does more than say who receives what. It tells the people you love exactly what to do on one of the hardest days of their lives.
Think Beyond the Documents
Wills, trusts, powers of attorney, and healthcare directives are the legal backbone of a good plan. But a grieving family's first questions are practical ones. What do we do next? Who do we call? Where do we look? What did they want? If your plan does not answer those questions, your family will be left to figure them out alone, at the worst possible time to do it.
Did You Know?
Houdini died on Halloween in 1926, and his will was remarkably specific. He left his magic props to his brother and his library of books on magic to the Library of Congress, where much of it remains today. Even masters of mystery put their wishes in writing.
Simple Additions That Make a Big Difference
Keep a one-page summary with your documents that says where everything is: original signed copies, keys, deeds, titles. List the people your family should contact, with phone numbers, including your attorney, financial advisor, accountant, and insurance agent. Add a basic inventory of your accounts, policies, and property so nothing gets missed. Some clients also leave a letter with their wishes for a memorial service, or anything else they want their family to know. None of this requires an attorney. Most of it can be done at your kitchen table in an afternoon.
Then, Have the Conversation
Paper only goes so far. Tell your loved ones that a plan exists, where to find it, and who is responsible for carrying it out. The conversation does not need to be long or heavy. A few clear sentences today remove the guesswork entirely.
You do not need to finish everything at once. If you want help figuring out which planning step should come next for your family, contact us and schedule a conversation. We will point you in the right direction.