The “Second” Most Important Plan of Your Life (and Death)

Friends, the past couple of weeks in York County, South Carolina, have been tough. Two young individuals have died at the hands of gunmen. These deaths are sudden, unexpected, and absolutely heartbreaking. I offer my deepest and most sincere condolences to the family and friends of Detective Mike Doty of the York County Sheriff’s Department, shot and killed in the line of duty on January 17, 2018, and to the family and friends of Karson Whitesell who was shot and killed at the Peach Stand in Fort Mill on January 23, 2018. Additionally, I’d like to say thank you to our law enforcement officers who routinely run towards danger so that the rest of us can run away from it. Without you, we would not have a community worth living in. Thank you for the risks you take every day to protect all of us. Your bravery and sacrifices are recognized and appreciated beyond words.

I had initially titled this article “The Most Important Plan of Your Life (and Death).” It however occurred to me rather quickly that what I was about to write about was not the most important plan of your life. The most important plan of your life is the plan for your soul. If you are the type of person that turns a blind eye to the certainty of death because it’s uncomfortable or turns a blind eye to the question of eternity because it’s unknown, you need to face the fact that you will indeed encounter death and then encounter whatever happens thereafter. Personally, I believe that we come face to face with our Creator and with our Savior, Jesus Christ. If you have not considered this or addressed it in your own life, I encourage you to do so. If you have questions, seek answers and seek counsel, but definitely address the issue.

Now, let’s discuss the second most important plan of your life. What am I talking about? Retirement? College savings? No and no. Will everyone retire? No. You only retire if you live long enough to retire. Will everyone go to college? No. You only go to college if you live long enough to go to college and want to go to college.

Most of us plan for things that are only possibilities. Health Insurance – Check. Homeowner’s Insurance – Check. Auto Insurance – Check. Retirement Account – Check. College funds – Check. Death and Incapacity – Che…wait…what? Yes. Death and incapacity. What’s the one thing that everyone will do? Die. Everyone will die. It may not be soon, but it will happen to all of us. God willing, our passing from this life into the next will be quick, comfortable, and will follow a long happy healthy meaningful life. However, this is far from guaranteed. In fact, as I’ve stated in a prior blog, Alzheimer’s and other forms of dementia are increasing at a break necking pace. Because the baby boomers are of more advanced age, we are seeing a strong rise in health concerns among older individuals. What I’m getting at is that sometimes our deaths can occur in the midst of a health crisis or after a slow mental decline. Because of the likelihood of this occurring, one must not only plan for the certainly of death but also for the uncertainty but probability of incapacity.

How does a person plan for death and incapacity? By enacting an estate plan. But what is an estate plan? What do these words mean? What is involved? Who do I need to talk to? Is it really necessary? How much is it going to cost? Different people can mean different things by the words “estate planning.” When I talk about estate planning, I’m talking about enacting a comprehensive plan that addresses not only the certainty of death but also the possibility of incapacity. I’m talking about a plan that allows you, the principal, the person making the plan, to decide now, while you are here, alive and fully mentally capable, how you want your affairs handled after you die or handled on your behalf while you are still here. I’m talking about a plan that will relieve your loved ones of having to make divisive, vital, and grim decisions in the midst of tragedy and grief.

What is involved? Usually just a consultation with a knowledgeable attorney who can guide you through the necessary considerations and advise you on the appropriate documents and strategies to effectuate your goals. Then, once you and your attorney have an understanding of your wishes, the attorney will draft the necessary documents. After you review the documents, you will sign the documents before witnesses and a notary public. That’s it. The process of creating the plan, of considering all the possibilities and what you would like to occur, is much more difficult and time consuming than actually enacting the plan itself.

Who do I need to talk to? Talk to an attorney who routinely does estate planning. Do not talk to an attorney who just does “simple” wills. Do not talk to an attorney who does not do estate planning as a large part of their practice. Do not go to legal zoom. You are paying for the judgment of the attorney. You are not paying for an attorney to sit at a computer and type a standardized document that you can download online. Every person and every family is unique and has unique considerations. These unique little considerations are what can make all the difference in the world to your family in the event of a death or catastrophic event.

Is it really necessary? Yes. While many people believe that estate planning is only for the wealthy, an estate plan, if done correctly, provides for so much more than death itself and the distribution of assets after a person’s death. If you are involved in an accident that leaves you incapacitated and unable to communicate, it doesn’t matter how wealthy you are. You will still need someone to make decisions on your behalf about your healthcare. You may need someone to decide on your behalf whether to terminate life support. You may need someone on your behalf to raise your children. That said, an estate plan is for everyone, wealthy or not, married or not, healthy or not, childless or not.

How much is this going to cost me? I don’t know other attorney rates for executing estate plans. Different attorneys do them differently, and different attorneys charge different rates. I know what I charge for a basic estate plan, but the fee varies depending on the circumstances. What I can tell you without any doubt is that the cost of doing an estate plan is much less than the cost of not having one when the need arises.

I personally believe that the most important function of an estate plan is to minimize family conflict and to ensure family harmony. If you can make the difficult decisions now and document them appropriately, your family, rather than fighting, will be allowed to grieve together and support each other during their time of loss.

Now that this depressing article is over, go enjoy your day 😊

DISCLAIMER: Yes, I am an attorney, but I’m not your attorney and your reading of this article does not create an attorney-client relationship between you and me. I am licensed to practice law in North Carolina and South Carolina, and I have based the information in this article on the laws of those two states and the United States. This blog contains general legal information only and should not be taken or relied upon as legal advice. All cases are unique and require a detailed analysis. Additionally, the laws are everchanging which causes certain pieces of article content to become outdated. You should consult with an attorney before you take any action in reliance on this information.