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Why you should have an estate plan

Updated: Jul 12, 2018



At first, creating a will can seem daunting — and maybe a bit morbid — but it’s actually not as difficult as you may fear. There’s a certain peace of mind once you have this level of planning sorted out, and getting it done can be as simple or as detailed as you like. Let’s take a look at why you might want a will, whether you’re a homeowner, parent, or none of the above.


1. The peace of mind you gain is priceless.

Most individuals I work with tell me that at the end of the process they feel as if a weight has been lifted off their shoulders. That’s because a will can cover many things like completing funeral plans or the coverage for funeral costs, to setting up funding for a spouse or child to continue on without financial hardship. With these final wishes in place, they know that their loved ones will have a lot less to worry about during an already emotional and stressful time.


2. You can create a blueprint for your family.

As I’ve witnessed, the stress of losing a family member can often lead to arguing over items that hold real or sentimental value — and death isn’t always the trigger. Families can also struggle with agreeing on how to care for someone at the end of their life. When you create an estate plan, you can help to guide your loved ones through your personal wishes for things such as what type of medical care you prefer, how your bills should be paid, and how to divide your assets once you have passed away.


3. It makes a plan of care for your children and pets.











While many of my clients dread this part of the process the most, they often find it one of the more comforting parts of the planning process. Your will can clearly define who you want to take care of your dependents, including your pets. You can even define how they should be looked after and include funding to help with their care.


Now I know you may be thinking that’s great but...I’m too young, wills look expensive, sharing private details isn’t my thing, or I’d like to wait until I get married/buy a house/ get a raise, etc.


All valid concerns, but not big enough to stop you from getting a will now. Here’s why:

  • You’re never too young to plan.

If you have a bank account, student loans, a car, an apartment or home, someone is going to have to take care of it when you’re gone. And since we don’t really know when death will occur, it’s not a bad idea to plan ahead to cover these costs and assets so your loved ones don’t have to foot the bill or play detective.


Another thing to consider are your investments, and not the stock market or real estate kind. Do you have life insurance through your employer? How about a retirement plan such as a 401k, 403b, 457 or pension? Planning can help you figure out what options your plans offer for withdrawals

if you have a severe medical condition. You can also review all of your documentation to make sure your beneficiaries are up-to-date and have age-appropriate planning in place (such as if a beneficiary is under the age of 18).

  • Wills aren’t as costly as you may think.

While every individual estate plan is different, many can be done within price range that will work for you. I have pricing for individual documents, family plans, and also flat-fee options. And remember, having a plan now will save your loved ones additional money by avoiding court and attorney fees later on.

  • You can create a will pretty quickly.

For most individuals you can plan on just a few hours of time between gathering your information and meeting with me. Before we meet you will get a list of information to gather such as your accounts and the possessions you care to pass along. The first meeting is spent learning about all of your options, reviewing your information and wishes, and learning more about what the next steps will be. The last two steps include reviewing your will to ensure everything is accurate and then finally signing all of the documents to make it official. That’s it!

  • This is a judgement-free zone.

Creating your will and estate plan is all about you being comfortable in your decisions, it is not a time for judgement. I know your personal decisions are very private and important to you. Your financial and asset information is used only to ensure that the creation of your will, and any advice given, is done in a way that best allows your wishes to be carried out. You will not have to disclose your medical history. You only need to inform us about who can access your medical information and when they can have access to it.

  • Updating your will is easy.

Our lives are ever changing and so are your plans. Your will is not set in stone and can be updated as frequently as you wish. In many instances, we will work together to create a will that covers many major life events, which in turn will save you time and money in updates. But if your circumstances change in anyway, and you don’t have an irrevocable trust, it’s easy to edit as life goes on.


Ready to get started? Learn more about how Tipler Law can help you plan for the future. Call us today at 937-748-9449 or visit Tipler Law online to schedule a meeting for more information.



Disclaimer: The information in this blog post is provided for general informational purposes only. No information contained in this post should be construed as legal advice from Tipler Law or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through, this blog post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

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