I have a difficult time reconciling the fact that my body, unlike my amazing jokes, will not live on forever. This is one of the hardest obstacles to overcome in estate planning. Nobody wants to think about their own death or someone in their family passing. I was always taught to not think about the future. Instead, think about it as if you passed away yesterday. How would you want your assets to be distributed? Who would you like to take care of your final matters? Who would you want to wind down your business? Who might be best suited to take care of your children or other family members? What would life be like for your loved ones today if you had passed away yesterday?
An estate plan is critical. Whether you have a trust, will or both, having an instrument that instructs your loved ones as to your wishes and provides proper authority to execute those wishes is extremely important. In addition to providing a blueprint for your loved ones, there is peace of mind in knowing that you’ve done what you can to make your passing a little easier.
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