Did you know that by not building an estate plan, you actually have one?!?! When a person does not plan, the State provides a plan for you! The State, through its laws and its court system, provides everyone with a one-size-fits-all plan. It does not matter if you are closer with one brother than the other. It does not matter if you have not spoken with your parents for over 10 years. The State’s plan for you does not effectively take your personal details into account.
The State decides who will make your financial decisions; who will make your health care decisions; and ultimately, who will get your “stuff” after you pass away.
I am not saying that the State’s plan does not work for everyone. For some people, the State’s plan is exactly what they need. But the important thing is for you to know and understand what the State’s plan does and doesn’t do, and how it affects your individual needs and goals (as well as how it can impact those closest to you). Once you have that understanding, and decide that the State’s plan is what you want, you can feel better about your Estate Plan!
If the State’s Plan does not work for you, then you need to do SOMETHING (remember, doing nothing means you have the State’s Plan). There are many things that can be done to create an individualized estate plan. To figure out what works best for you, you should talk with an attorney focusing his practice on estate planning, like the attorneys at Morris Hall. Through this consultation, a plan can be developed to meet your goals, your needs, and address your concerns.
Here at Morris Hall, all we do is estate planning! We would be happy to sit down with you and discuss your situation. Give us a call today!
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, powers of attorney, 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, Tucson, Prescott, Flagstaff and Arrowhead.
Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. Contact us today at 888.222.1328 to schedule an appointment!
Contributed by Attorney James P. Plitz
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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