Reib Law - June 2020

SHATTERPROOF NEWSLETTER

JUNE 2020

WWW.REIBLAW.COM | 940.591.0600

this process. They’ll be there to guide you and make sure you understand everything. This isn’t a service you want to choose based on price alone. This is an investment in safeguarding your future and your family’s future. Once you are ready to do your estate plan, you’ll need to decide who you want to be in charge of medical and financial decisions for you if you’re not able to make them. If you have children, you’ll designate a guardian to care for them if you and your spouse are unable to. This is often the part that freezes people up. I talk with someone about starting their estate plan, and they can’t figure out who they should pick as a guardian. They get stuck and don’t move forward. Ask yourself: Do you want to take care of it now, or do you want others to make these decisions when you’re no longer around or capable of doing so yourself? If you put it off and something happens to you, your spouse and kids will be footing the bill. Your estate will go to probate. If you have a will, that’ll cost them $3,500 to get out of probate. If you don’t, they’ll pay $5,000. While there is an upfront cost to establishing an estate plan, would you rather pay it now or leave your family to deal with it later? Once you take care of your estate plan, you will feel so much better. The other thing to remember is that you can always update your plan because it isn’t set in stone. I’ve updated my family’s estate plan twice. The first time was just before our second child was born. The second time was before our 20th anniversary trip when we were all getting on a plane to fly together. You just need to get started. Imagine how good it’s going to feel to check that off your to-do list! If you start now, you can have your estate plan finished by the end of the summer. Otherwise, it’s going to continue nagging you from the back of your mind.

WHAT YOU REALLY NEED TO KNOW ABOUT ESTATE PLANNING THE SECRET THAT LAWYERS DON’T WANT TO TELL YOU

I’m going to let you in on a little secret that most lawyers don’t want you to know: Estate planning is easier than you think . Lawyers will try to make it more complicated than it needs to be. The truth is that we handle the complicated part — you just need to decide you’re going to let us do it. As attorneys, our job is to lower the barrier for you and make the estate planning process as straightforward and accessible as possible. Other than making a few key decisions about how you want matters handled (and I get that this can feel daunting), it’s not complicated. The real complexity is in the documents we draft up, but that comes later. Once you decide to move forward and make the plan, we go through a decision tree with you, then draft up documents based on what you want. This is one of the times when it’s still required that we use language that is foreign to most folks without a law degree. It gets pretty technical, but we go through it with you and translate the legalese so you can make sure you feel good about all of your decisions. This is why you want an experienced estate planning attorney to help you with

Give me a call when you’re ready to get started. Let’s do this.

– Scott Reib

| 1 940.591.0600

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