3 minute read

Part 3: Why You Need An Estate Plan, Even If You Don’t Have the Time to Make One

Have no time in your schedule in wondering if creating your Estate Plan is necessary? Short answer: Yes. Long answer: check out our complete guide.

We’re all busy. It’s become the norm. We live in an age where technology makes just about everything accessible, at our fingertips, 24/7. Still, it can feel like there just aren’t enough hours in the day to get everything done. Because with the advantages technology brings, we see some drawbacks, too. It can also make it feel like we’re in a constant go-go-go mode, with little time to take care of the important things in life, like Estate Planning. 

What if we told you that even Estate Planning can be quick and effective, using that exact technology we’ve all become so accustomed to and dependent on?  

Just because you feel like you’re in an inescapable rat race, doesn’t mean you can’t find the time to take care of something as essential as your Estate Plan. Even though traditionally Estate Planning has been thought of as something that’s a complicated, expensive, time-consuming process, we can assure you of one thing. Working with Trust & Will is different. We made the Estate Planning process as easy as possible. You don’t have to let the “I’m too busy” excuse get in the way of preparing for your future. 

Find out why Estate Planning is so essential, and how we’re making it easy for you to get it done, even if you think you can’t find the time. 

Top 8 Reasons You Need an Estate Plan NOW (Even If You’re Busy)

  1. Tax Benefits: Careful Estate Planning can be tax beneficial for both your estate and your heirs. When you use the right vehicles and tools, you can reduce taxes to both the state and federal government. There are also ways to effectively plan to strategically reduce inheritance taxes your beneficiaries may owe.

  2. Protect the Vulnerable: Your Estate Plan can protect your children as well as any adult dependents you care for. Especially in cases where minors are involved, an Estate Plan allows you to appoint guardians and set up financial planning that will benefit your children well into adulthood.

  3. Eliminate Drama: A carefully thought out Estate Plan can drastically reduce (or, dare we say, even completely eliminate) family drama. That old saying when you fail to plan, you plan to fail is especially true when it comes to your Estate Plan. It’s rare that every member of your family will agree about what should happen to your estate after you pass away. Eliminate public battles where courts are involved by creating a plan that makes everything crystal clear in terms of who gets what from your estate.

  4. Prepare for Future Generations: When done well, an effective Estate Plan can help protect your legacy, so your children, and their children, will flourish, with your help, even when you’re no longer here.

  5. Avoid Probate: Estate Plans might be able to help your estate avoid probate. Probate is a costly and time-consuming court process that oversees the distribution of your estate. It’s important to note that Wills do go through probate, whereas Trusts and certain other assets with direct beneficiaries (like Life Insurance policies) do not. You can mindfully set up an Estate Plan that greatly reduces how stressful the probate process is on your family.

  6. Asset Protection: Estate Plans created with asset protection in mind can be more protective in the long run. Whether you just want to protect your assets from potential lawsuits or creditors, or you’re hoping to set up a plan that’s as tax-beneficial as possible, there are ways to better-protect your assets with your Estate Plan.

  7. Make Your Intentions Known: If your goal is to ensure your wishes are followed, an Estate Plan is a must. Clear, concise, direct instructions mean everyone, from the courts to your loved ones, understands what you want. You leave nothing up to misinterpretation when you constructively use your Estate Plan to make your wishes known. You can design an Estate Plan to cover how you want your assets invested after your passing, as well as to dictate what you’d want if the time ever comes you’re incapacitated and can’t speak on your own. Estate Planning can cover all of this, and much more.

  8. Philanthropic Goals: If you have philanthropic goals, an Estate Plan can help you achieve them. When you know you want part (or all) of your legacy to include donating to a cause or organization that’s near and dear to your heart, your Estate Plan can ensure your wishes are followed. There are a number of strategies you can put in place through your Estate Plan to make sure a worthy cause benefits from your estate. 

When Should You Create Your Estate Plan? 

Simply put, you should create your Estate Plan now. If you’re an adult, you have a job or career and you own any sort of assets or property, you need an Estate Plan to protect both yourself and your loved ones in the future. 

Even if you don’t have significant wealth yet, or you’re not far enough along in your career to have substantial retirement savings, there are still a great number of things that your Estate Plan can plan for and protect. That’s why there really isn’t a good reason to put off planning another day, even if you’re really busy.

How Long Does Estate Planning Take?

Estate Planning can take anywhere from 15 minutes, to a few weeks, to even years, depending on how you go about it. If time is a concern and you really don’t feel like you can complete a helpful, useful, complete Estate Plan, we can assure you, nothing is further from the truth.

Estate Planning through an online service like Trust & Will makes the process streamlined and simple. You can be done in a matter of minutes. We made it a priority to develop a process that’s as easy and effective as possible. Our plans are affordable and perfect for busy people just like you, who don’t have a lot of time to invest in their Estate Plan.

Learn more about how Trust & Will’s Estate Planning services are making it possible for anyone who needs an Estate Plan to get one. You want a plan that’s designed specifically for your needs, so your estate, your loved ones and your legacy are all protected. With state-specific forms that are designed by attorneys and legal experts, you can trust that in just a matter of minutes, you’ll be getting a plan that does everything you need it to do.