Father Time is Undefeated
The death of Kobe Bryant is a real shock. Someone who seemingly had everything and was entering the prime of his life is now gone in an instant. The media showed countless pictures of him and his family. Kobe seemed to be a great father and husband. He also seemed to be really enjoying his retirement from basketball.
The idea of losing a spouse and a child is just as heartbreaking. Unfortunately, no amount of fame and fortune can prevent tragedies from happening.
When someone you know passes away, have you ever asked yourself “what would I say to them, if given one more chance?” We all eventually live with these questions in our lives.
This led me to think about why so many people wait to act or act when it is already too late. Why do we push off doing or saying something when we have the chance right now?
Dragging Our Heels
In my estate planning practice, I see the results of procrastination all the time. Someone is having surgery, and I get the panicked call asking if I can prepare a Power of Attorney for Health Care and Finance. Then, someone else calls saying their elderly parent has Alzheimer’s disease and asking, “is it too late for them to complete a will or trust?”
Why do we wait until a crisis arises to do something that could have easily been done before? Why do we push off some of the most important things in our life?
The Art of Letting It Slide
Recently, I read an article on the reasons people often procrastinate. A lot of these are common sense, but according to Psychology Today, typical reasons include:
-Depression & Anxiety
-Cannot or will not prioritize
-Hard or painful to contemplate or complete
-Parents or siblings were also procrastinators
The 2020 Estate Planning Procrastinator
I have a lot of prospective clients contact me about getting a will or trust completed. I will send them some information and then, I don’t hear from them for months on end. From my perspective, here are some reasons why that is:
- Constant Interruption- We are bombarded with interruptions in our daily lives. Phone calls, emails, texts, kids, you name it, we all have this in our lives. Difficult to prioritize with so many distractions.
- Too Many Choices- Have you ever gone to a dinner with someone who stares at a 6-page menu and can’t figure out what they want to eat? Too many choices can lead to paralysis.
- Over Analysis- Or, what I call, the “what if” game. You can analyze things all you want, but you cannot perfectly predict the future. This leads to delay after delay. Estate plans are supposed to lay the groundwork and change with you as time and circumstances change.
- Fear of Dying- When it comes to estate planning, some people think that by signing their will they are also signing their death warrant. YOU ARE NOT GOING TO DIE BECAUSE YOU SIGN A WILL! This is like saying that you are going to get in a car accident because you purchased car insurance.
No Decision is a Decision!
We all are procrastinators to one degree or another. Most of the time our procrastination doesn’t really cause us much harm. However, there are things that if you procrastinate long enough it may come back to haunt you in a very stressful and costly way. Most of us hate having to get our paperwork together to have our taxes done. But what if we don’t? The IRS comes calling.
When it comes to estate planning, no decision = no plan…or the State’s plan. No plan will cost you and your loved ones:
STRESS, AGGRAVATION, TIME, MONEY, and FAMILY HARMONY
If you know anyone that should have an estate plan but does not, such as elderly parents, retirees or families with young children, I have a gift for them. For anyone who contacts me in the next 30 days AND commits to have a will or trust completed, I will give them a 20% discount off my flat fees.
Don’t delay. Contact me today.
Do you want to avoid the problems I have described here?
Invest 35 minutes of your time and meet with me.
-We’ll review your situation and make recommendations
-Flat fees for most estate plans