How to Get Started on an Estate Plan - It's Less Scary (and Hard) Than You May Think

Since this estate and business planning stuff takes up the vast majority of my working hours these days, it feels pretty easy and accessible. Nothing seems like a big deal anymore, even when something crazy comes my way. Perhaps it’s my personality, maybe it’s because I spent so many of my formative years in the practice of law in courtrooms and arbitrations where unexpected stuff happened all the time, or it could just be all the insane things that have happened on the tennis court over the last several years and my learning how not to let it ruffle my feathers.

Whatever the “why” is, I know that almost nothing stresses me out about these two topics anymore.

And that makes it easy for me to forget sometimes that these topics don’t feel like “no big deal” for everyone – especially my clients who have a lot of resistance around getting an estate plan done. Over the years, I’ve seen that resistance come from lots of different places.

Sometimes resistance comes from just a procrastinator personality type (I know that one!). Other times it’s a fear of something – making tough decisions, something that happened with a family member, what it’s going to cost, or that something bad will happen once an estate plan actually gets finished. Or it may be just a feeling of overwhelm and not having a clue about where to get started.

If any of these things resonate with you, then read on. I’m going to share how you can get started with getting your own plan done….

1) There are so many things to figure out to get a plan done…

If you’re reading this blog post, odds are you “want” to get your estate plan done. You probably feel it is something you “should” get done and I’ll agree with you that it is if you want to make sure your family and loved ones know what to do when you’re gone. Not doing one increases the odds of family conflicts, uncertainty, and disappointment. I’ve heard stories from people again and again that they couldn’t believe someone didn’t do one – especially if they have assets and kids.

Getting clear on what it is that has kept you from doing this so far is the first step towards understanding what you need to do next to get over that hurdle.

If it is picking a guardian, we can help you with that. If it is deciding who will deal with your stuff, we can help you figure that out, too. If it’s choosing a trustee for your kids, yep, we can offer suggestions to help you pin that down. Not sure what to do with the family lake/beach/mountain home? We have ideas in that department.

Every single one of those issues is something that can be difficult for people to figure out on their own, but getting more information about how to make those decisions is easy for everyone and that’s because the decision making process is pretty much the same. It’s the outcome that will vary person to person and depend on your own unique situation.

Here are the highlights of the big decisions you will have to make:

- Choosing an executor (the person who will deal with anything that has to go through probate court)

- Choosing a trustee (if you’re doing a trust, someone will need to manage it for you when you’re gone)

- Naming a guardian for your kids

- Selecting a power of attorney to handle your financial stuff if you can’t and are still alive (e.g., if you are in a coma, suffer from a breakdown or dementia, or otherwise lack capacity or capability to do so on your own)

- Deciding who will make medical decisions for you if you are unable to do so

- Creating a plan for the disposition of your assets

2) What is it going to cost?

If your situation isn’t one that feels like it can be addressed by a one size fits all solution, then working with a lawyer you know, like, and trust to guide you through the tough decisions and be there for your family is the way to go. And the pricing will vary because everyone’s situation is different.

If you work with us, our estate planning packages run from $1,500 up to more than $10,000 for extremely complicated situations. Most of our clients, however, choose to establish trust-based plans, the majority of which fall within the $3,500 to $5,500 range. Some of our clients request payment plans, and that’s fine, too. We can tailor the estate planning process to meet your most pressing needs in a way that also aligns with your budget or financial planning.

If you choose to do a low-cost online estate planning package, the pricing is usually pretty uniform (and also pretty low) because those solutions are one size fits all. And this is one area where you get what you pay for. (Kind of like DIY plumbing repairs – happy to share the story with you about when I did a DIY bathtub drain repair with a $2 part that ended up costing me hundreds of dollars in the long run - and that would have cost me just $50 to have an experienced pro do it for me. That $50 would have been well worth spending if I had known that’s all it would have cost!).

3) I have so many questions, where do I start? What should I do first?

Book an appointment or a 15-minute call (you can do that by clicking on this line)

I don’t say this to be salesy or because I do this work for a living – I say it because doing that one thing will address pretty much any of the myriad of things that may be keeping you from getting this one important thing done. If you’re just a procrastinator, then getting your next milestone set and on the books is your next step towards getting your planning done. If something else is going on in your mind, then booking that appointment opens the door to address and talk more about “that thing.” Whether it is not deciding on a guardian for your minor children, who will serve as your health care agent, or something else, booking that appointment or scheduling a short call means we can share our thoughts on those issues with you. And that can help you make your decisions and decide how you want to move forward next.

So, if planning is something you’ve been wanting to get done, I invite you to check in with yourself to see what is truly holding you back. And if you think we may be the right ones to help you get there, then take the next step. Whatever you choose to do, do something and get the ball rolling.

I promise it isn't that scary.