Sandler Training - September 2018

“It’s rewarding to help people. If life is difficult, there are still techniques we can use to help.” That desire to help is only exceeded by her ability to strategize — a key skill in someone who specializes in estate planning. “I like planning the best,” she says. While few things in this world are certain, Susan says there’s one thing you can take to the bank: “I can guarantee everyone is going to die.” It may not be the most comforting revelation, but it’s a reality you need to embrace because your death doesn’t just affect you. Your family will need support and a plan. Susan takes on the role of strategist and works to mitigate external stressors after a death in the family. Only she does it well before someone dies. The thought of embracing our own death is uncomfortable, but it’s just as stressful for the people who care about us. Friends and family have to navigate a minefield of emotional barriers as they learn to cope with the difficulties of loss. The burdens they carry during this time can create a ripple effect through life, affecting even the simplest of daily activities. Crippling emotions can rule the day, leaving a sense of hopelessness and lack of direction. While loved ones struggle with their own grief, the last thing they want to worry about is what might be going on with their loved one’s estate. This is why it’s pivotal to draft a bulletproof line of succession that details explicitly which assets go where.

A foolproof estate plan will make the process easier for those you care about, and it will be significantly cheaper. “The failure to plan is so much more expensive,” Susan says. If you don’t plan properly, the running tab of what’s required becomes expensive and time-consuming. “Anywhere between $5,000–$10,000 is not uncommon. One case I was involved in was over $100,000 in attorney fees.” A good lawyer can take a very complicated process and make it simple to understand. One of the most critical areas Susan focuses her attention on is educating her clients to avoid probate. But what is probate? “Probate is when someone dies and the assets are in their name,” Susan explains. Seems like a pretty straightforward concept, right? Issues arise when questions are raised as to who has the power to distribute assets. If you die without a clear line of succession — or even if there’s

a question about ownership of a possession — those holdings need to be allocated properly. “When someone dies, someone needs to step up. Probate does that.” Susan explains. But Susan will be the first to tell you that probate is a disaster. “Court and law have expenses. Proceedings are cumbersome. They take time and money,” she says. So much of an estate plan is focused on someone who is aging, but this thought process excludes one of the trickiest areas for an attorney. If someone becomes physically or mentally disabled to the point of incapacitation, their assets go through a similar process as if they had passed. The necessity of having an estate plan already in place becomes even more significant when you consider that one accident can change everything. PROTECT YOURSELF AT ANY AGE

FAIL TO PLAN, PLAN TO FAIL

If you don’t decide where your assets should go, someone else

will, and that’s not a decision you want to leave to chance. “The wrong people end up in charge. It creates family conflict and just a total mess,” warns Susan. “If you plan ahead, you can protect assets and reduce conflict.”

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