Estate Planning: A Celebration of Life and Peace of Mind
Many times when we hear about estate planning, it’s during a discussion about death. And that makes sense. It’s common for people to work on estate planning paperwork while getting other affairs in order, such as putting a down payment on a burial plot. There’s nothing wrong with that. However, I like to think about estate planning in the context of LIFE.
What is Estate Planning?
Estate planning is the process of planning for the future by making sure your assets are distributed and healthcare and financial decisions are made as you intend. It often includes creating documents such as wills, powers of attorney, health care directives, and trusts. While it’s easy to associate these with end-of-life or incapacity planning, they’re also about life.
Estate Planning for LIFE
An 18-year-old getting ready to embark on the adventure of a lifetime — a study abroad opportunity in Europe — works with an attorney to grant her mom the ability to make decisions regarding healthcare and financial needs. This gives them peace of mind after they’ve given hugs goodbye at the airport, and she bravely steps into the security line.
First-time parents look with awe at ultrasound images of their growing child and then call an attorney. It’s time to draft their wills, the paperwork they’ve been putting off for ages. Now they need to name guardians for their anticipated son they’ve waited so long for. Hopefully, this will never be needed, but just in case, these legal documents give them peace of mind as they set about decorating the nursery and filling drawers with tiny socks and teeny onesies.
A recent divorcée signs the last bit of paperwork, officially closing a painful chapter of neglect and heartbreak. She’s ready for a fresh start, including updating her estate planning documents. Her best friend has been a lifeline during the painful divorce proceedings, and she wants to name her as personal representative while ensuring her assets are going where she wants them to. This is the final step as she embarks on her new journey.
The owner of a property management business thinks about his legacy and the future of his company. Who will manage his properties if he is no longer able to? He’s worked for years to build his brand, and it gives him joy to know it can live on with a business succession plan. In this way, his family and his employees will be provided for, too.
The parents of a child with Down syndrome worry about the financial support for their son after they’re gone. They don’t want to unnecessarily burden their other children, so they work with an attorney to set up a supplemental needs trust. Once the paperwork is signed, the entire family breathes a deep sigh of relief, knowing their wishes will be carried through.
Estate Planning as Empowerment
Of course, this process isn’t always easy. It can involve challenging conversations and weighing out difficult pros and cons. However, these conversations and decisions don’t just have to be about preparing for death; they are also about celebrating life. From starting a new chapter, welcoming a child, or embarking on an exciting journey, estate planning gives you the peace of mind to fully embrace life’s moments and milestones.
You can take the first step in your estate planning journey by contacting Miroslavich Law today. During a complimentary consultation, we can discuss the life you’re building and the decisions that will help you enjoy your next chapter with peace and contentment.
Estate planning doesn’t have to be about fear of the end; it can be about confidence in the life you’re living now.
