What I Wish More People Knew About Estate Planning

Here’s the thing - estate planning isn’t just for the ultra-wealthy, and it doesn’t have to be complicated. In most cases, the goal is pretty straightforward: make sure your stuff goes where you want it to go, without making your loved ones jump through unnecessary hoops to get it. 

That means avoiding court, avoiding delays, and avoiding extra costs. 

Most people hear “estate planning” and immediately think, I need a will, and that will keep everything simple. But they couldn’t be more wrong. A will means court. It only becomes valid once a judge says so, which kicks off a process called probate. Probate is slow and costly. 

Here’s something a lot of folks don’t realize: Most of the assets people own - retirement accounts, life insurance, bank accounts, homes, even cars - can be set up to skip the court process entirely. This is commonly referred to as operation of law, and it just means the asset goes straight to a named beneficiary or joint owner automatically. 

That’s a huge deal. If you don’t set it up that way, those same assets will likely get pulled into probate. And then your loved ones are stuck waiting, dealing with lawyers, and spending money they didn’t need to. 

This is why I always tell people: have the conversation now. Sit down with your family. Talk through what you own and what your goals are. You don’t need to have every detail figured out, but clarity now can save everyone a lot of stress later. 

Too often, the conversation never happens. What does happen is someone gets that phone call - the one telling them a parent or grandparent has passed. And before they have a chance to grieve, they’re thrown into a world of paperwork, passwords, institutions, and court dates. It’s overwhelming, and it’s not how anyone wants to remember someone they love. 

Planning with a financial advisor isn’t just about retirement accounts and investment strategies - it’s also about what happens after you’re gone. If you have people you care about, making sure they’re not stuck in a mess should be part of the plan. And if you’re expecting to inherit something someday, it’s okay - and smart - to ask your parents or grandparents what the plan is. 

Not sure how to bring it up? Here’s something you could say: 

“The idea of something happening to you honestly scares me. I don’t know what I’d need to do or where to start. I just want to make sure I can follow your wishes and not be overwhelmed. Can we talk about it sometime?” 

Estate planning doesn’t have to be overwhelming. If you’re not sure where to start—or want to make sure your plan is as simple as it could be—it might make sense to reach out. 

Feel free to click “Contact Us” if you’d like to talk it through.