Estate Planning for Families: Why You Shouldn’t Put It Off

Let’s face it—estate planning isn’t the most exciting topic to think about. But it’s one of the most important.

We’ve all seen the stories. Someone passes without a will, and their family ends up in a long, drawn-out legal battle. Even in close-knit families, emotions run high, and misunderstandings or assumptions can lead to permanent damage.

And it’s not just celebrities or the ultra-wealthy. The Wall Street Journal recently highlighted how common estate disputes are—especially in blended families—where stepchildren can end up unintentionally disinherited if proper planning isn’t in place.

The bottom line? Without clear documents, the state decides how your estate is handled. That includes who receives your assets and, in some cases, who will care for your minor children.

Unfortunately, most Americans are behind on this. Over two-thirds either don’t have a plan or haven’t updated it in years. And even among people with $1 million or more in assets, a surprising number still don’t have a will.

It doesn’t have to be that way.

A basic estate plan includes a few core pieces:

• A will that outlines how your assets should be distributed and names guardians for minor children

• A living will that spells out your wishes for medical care if you can’t speak for yourself

• Powers of attorney for both medical and financial decisions

• Possibly a trust, depending on your goals and family structure

  
  

If you’ve had major life changes—marriage, divorce, children, or changes in your financial situation—it’s a good idea to review your plan. And if you’ve never created one, now’s the time.

Yes, there are online tools that can help you get started. But for more complex situations—like blended families, family businesses, or significant assets—it’s worth working with a professional. The upfront cost is small compared to the time, money, and stress it can save your loved ones later.

Here’s what I recommend:

• Don’t assume your family knows your wishes.

• Make sure your beneficiary designations are up to date (these override what’s in your will).

• Let someone know where to find your documents.

• And if you’re not sure where to begin, let’s talk through it together.

  
  

Whether you need help reviewing an existing plan or don’t know where to start, I’m here to guide you through the process. Estate planning is a gift to the people you care about most.

Schedule time with me if you’d like to discuss your estate plan or get pointed in the right direction.

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