What Happens When You Don’t Plan (Or Haven’t Updated Things Since the Kids Were in Diapers)
You’ve worked hard for what you’ve got — the house, the land, the savings, and most of all, your family.
But here’s a truth most folks don’t think about till it’s too late:
Laws change. What worked 15 years ago may leave a mess today.
Families change. New grandkids arrive, old relationships shift, and sadly, some loved ones pass on.
Money changes. That farm, CD, or IRA you set up years ago? It needs to be planned around today’s needs.
If your Will or Trust is old and dusty, or worse — if you don’t have one — the courts may step in and make the decisions. And let me tell ya, they charge good money to do it.
Probate is like inviting a bunch of lawyers to dinner… and letting them eat first.
Will:A Will says, “Here’s what happens to my stuff when I pass on.”
But it must go through probate — a long court process your family will have to wrangle.
Trust:A Trust is like having your own little lockbox of your assets.
It lets you skip probate, keep things private, and control how your money and property are handed down. Trusts are a bit more work to set up, but they sure save headaches and keep your affairs out of the courthouse.
Probate is the legal process where your Will is proven in court, debts are paid, and what’s left is handed out. Sounds fair, right? Well...
Here’s what usually happens:
Lawyers take a bite out of your estate (legal fees aren’t cheap)
Your family waits 6 months to 2 years
Everything becomes public record (nosey neighbors can see what you had)
In short: it’s a slow, expensive, stressful mess that a good plan can help your family avoid.
You may feel spry now, but life can throw a curveball. That’s why having a Power of Attorney (POA) is smart.
Two kinds you need:
Financial POA — someone you trust who can handle bills, banking, property if you’re not able.
Healthcare POA — someone who can make medical choices if you can’t.
Without these? Your family may have to go to court just to pay your light bill or get you proper care.
Let’s not put them through that.