I always say…
It’s never too late to get your estate plan done, but don’t put it off. Remember, time ticks by…are you ready? This leads me to one of my favorite stories of how we put the “pedal to the metal” and got to work fast. We even surprised ourselves! Let me tell you a story about my good friend and client Miguel. Miguel is a contractor, he owns his home, has his own business and has investments in real estate. I met him almost 20 years ago, when we were both “real estate-aholics”. This is how we met and we did several real estate deals together. It was way back then that I first brought up the importance of estate planning to him. He had his daughter about 16 years ago, and I really started to emphasize the importance of having an estate plan. I continued reminding him of the responsibility we have to take care of our kids, even when we are not around anymore. He agreed with me wholeheartedly and insisted that he would set up an appointment. Unfortunately, he procrastinated for a few years.
Some time passed and he finally came in and we got the intake information filled out, but never pulled the trigger to get the documents going. He then had his second child and I reminded him again of the importance of the estate plan. Over the years, at social gatherings and birthday parties, we have touched on the need get the estate plan done.
The answer was always, “Yes! Next week”, but next week would never happen. Until, a trip out-of-the-country recently triggered his desire the “GET IT DONE” and now it was urgent. He called me on a Wednesday for us to meet about moving forward with his estate plan. “And by the way, our flight leaves on Friday,” he says.
We were able to put the documents together and we got the documents signed Friday morning in time for him to make his flight. He had a great trip with his family, knowing that his estate plan was completed and if anything happened to him, there would be a smooth transfer. He now wonders why he waited so long, but nevertheless, is glad he got it done.
I don’t relay this story to suggest that you put off your estate plan, but rather to suggest that its not to late nor too early to get it done. On the other side of this story and as a word of caution, I share another story about a client early in my career.
We met on a Friday morning to discuss his estate planning and asset protection needs. He said, “Let me think about it over the weekend and I’ll let you know on Monday if I want to proceed”.
Sadly, he passed away that Saturday night. With that said, I can’t stress enough, it is important not to put this off. I invite you to take action today. Contact us or go to our website and download our Guide to Lasting Peace of Mind to help you learn about estate planning and start putting together the information for your estate plan. I invite you to schedule an appointment with our office. Remember don’t procrastinate about estate planning, you never know when it will be too late.