Misconceptions swirl around the subject of estate planning, resulting in confusion and misunderstanding.
At its very core, what people refer to as “estate planning” is simply a set of instructions. Instructions for who handles things if you become disabled before you die, what to do when you die, and who should do it.
As you know, instructions do not produce a result, and sometimes having incomplete or poor instructions can even cause more frustrations than having no instructions at all. Think back to the “assembly required” item you purchased that provided you a page of instructions with tiny drawings, arrows pointing everywhere, and the text was in a foreign language you didn’t understand. Were you frustrated? But they gave you instructions…!
To produce a desired result people need clear well prepared instructions. Remember, someone will implement and carry out those instructions. Will they be angry and/or frustrated when the time comes to implement your instructions?
To have an estate plan that allows things to go smoothly when the instructions are implemented upon your disability and death, more is needed than just instructions. Investing the time to prepare quality instructions, coordinating your property with the instructions, preparing your loved ones to carry out the instructions, and adjusting the instructions when things change in your life, are all critical elements of an estate plan that will produce the results you want and expect.
If you have questions about effective estate planning, I encourage you to gain more knowledge about available planning options, by visiting www.EstatePlansThatWork.com to sign up for a complimentary educational workshop.
Brighton, CO