The Secret Benefit Of Estate Planning
My wife and I recently completed our estate planning. We have been putting it off for years.
It always seemed there was something more important on the list than planning our legacy. Ironically, as a financial advisor, I often advise those without an estate plan to get it done.
Yet here we were without a plan for our family.
Arguing reasons and excuses for not doing our estate planning was easy.
We have plenty of time to get it done later.
It probably works itself out anyway in the end. Why bother?
There are more pressing issues to deal with right now.
Yeah, we should do that someday.
Over the years, I have had many put off planning their estate.
A fair amount of work is involved, disagreements must be compromised, and decisions will affect your entire family long-term. It's very easy to put this off.
Once completed, the documents are notarized, placed in a binder, and locked in a fireproof box. Pay the estate planning attorney and move on. Nothing changes, no difference in your bottom line, no immediate gratification or benefit.
However, there is a little secret about estate planning. An immediate benefit that nobody talks about.
You may think the benefits are protecting your family, financial clarity, and peace of mind—all valid, but not the secret.
I only figured out the secret because my wife and I just finished our estate planning after years of procrastinating and making excuses.
For us, the secret, the immediate benefit, is so profound and life-changing.
Completing our estate planning has given us confidence.
The big secret is we now have the confidence in our ability and power to make ourselves do what we must to move forward and plan our future, whether we like it or not. Whether we want to or not. Huge!
We now know how great it feels. We have overcome procrastination. The bonus is that our affairs are now in order. Free to tackle the next item on that nagging financial to-do list, working towards financial independence.
We are ready!