Do I Really Need an Estate Plan? 

Written By: Jeffrey A. Marshall, Elder Law Lawyer

Many folks avoid initiating an estate plan for many reasons.  Some people feel that estate planning is expensive, or perhaps that their assets are not substantial enough to warrant the preparation of a will, or maybe even that estate planning brings up the unpleasant thought of death. It is our experience at Marshall, Parker & Associates' that the estate planning process is a lot less painful than many folks have led themselves to believe. All of us like the ability to make choices and initiating an estate plan is exercising your right to choose!!! One of the cornerstones of estate planning is the will, which allows you to to create a blueprint of how you want your estate to be handled and also allows you to select someone you trust (one or more Executors) to carry our your plan.

Some important reasons to write or update your will include:

• It allows you to leave whatever you want to whomever you want.
• You decide who will be in charge of your estate.
• You can choose a guardian of your choice for minor beneficiaries.
• It can minimize family issues and disagreements.
• It can reduce estate administration expenses.
• You can ensure that your plan is effectively drafted in the context of current laws.

In closing, it seems appropriate to share with you the comment offered by many clients who have visited with us to initiate or update their estate planning: "I feel so relieved to know that I have a plan in place, I shouldn't have waited so long!"

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