A magician can pull a rabbit out of a hat, but no one can pull your wishes out of thin air. If your family has to guess who should handle your affairs or what you want for your property, the trick can quickly lose its charm. So many of our clients who have come through RLG doors thought they wanted everything they had to pass to their children outright upon their deaths. But once we talk about their innermost desires on how they want their children to handle the funds after they are gone, they realize they need to structure their estate plans differently than originally intended.
That’s where estate planning works its practical magic. A will or trust can formalize your wishes for your assets, while powers of attorney and health care directives can name people to help if you cannot act for yourself. Its our job as your estate planners, to ensure that you have through through all of the “what-ifs” and adjusted your plan accordingly. It is also important to align your estate plan with your assets as well as your beneficiary designations, so your plan that doesn’t depend on mind reading. The real trick? Putting it in place before anyone needs it.