They say, “Ignorance is Bliss!” When you don’t know what could go wrong, you continue down the same path. I was recently recounting the family trips we took when I was young. My mom and dad would pack me and my three brothers into the back of our station wagon (seats folded down, mattress laid on top for the ultimate in comfort), and we would head on out to visit family or see the sights. The trips took us up and down the east coast. We would travel hundreds of miles – the kids simply playing and enjoying the trip in the back; no seat belts and no car seats. And there was never an incident!
But now, I could not imagine going to the corner grocery store without strapping my son into his car seat! My parents, along with the rest of society, did not fully appreciate the dangers the road presents. Ignorance is bliss!
The same can be said about estate planning. Since the vast majority of Americans fail to implement any sort of plan, they are all living in this blissful ignorance of the potential issues. Now, like my family vacations, nothing may happen. But if something does, wouldn’t it be better to have been protected, i.e. have a plan in place!
A properly drafted estate plan will provide you with the “protections” – minimize tax impacts (income, capital gains and estate); direct decision maker capabilities; distribute in accordance with your goals and desires; and do all of this with the least amount of delay, expense and publicity!
I don’t put my son in a car seat because I think something bad will happen. I do it because if something does happen, I know he will be protected.
We would be happy to sit down with you to talk about your situation, and put a plan in place that provides you and your loved ones with a peace of mind that if something “bad” were to happen, there are protections in place.
Contributed by MH Estate Planning Attorney James P. Plitz.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
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