✅Pros & Cons of Estate Planning:
🤷♀️Why haven’t I protected my hard earned money and property with an estate plan? Eugene and Greg explore that question as they go step-by-step over the pros and cons of estate planning.
In this episode learn:
⚜️The high costs of waiting.
⚜️How planning can be very affordable.
You may have thought about estate planning for your future of your family, but haven’t done anything about it yet. Well, Greg McIntyre with McIntyre Elder Law, he is an estate planning attorney and he’s here to help. And Greg, thank you for being on the show. And Greg, let’s start right here. Why doesn’t everyone have an estate plan?
Lots of reasons. Maybe procrastination, maybe a global pandemic just hit and it hasn’t been top of mind. But it should be. And people get into tough situations where they haven’t done proper estate planning and it can really jeopardize everything they’ve worked so hard for. So I went through, Eugene, and I listed pros and cons. Pros on the left side, cons on the right side, just going through that thought process of why someone might not want to go get an estate plan done and maybe why they should. And I’d love to go through that thought process with our viewers today.
Well Greg, let’s go through this thought process of pros and cons. Take it away.
Sure. So, under the pro section we have, have a plan. What’s the advantage of having a planet? Well, when I have a plan, I simply have to work the plan. I know that I had that in place and I’m just working through that plan. I’ve already thought it through. To have a plan, I’ve got to think about the plan and that’s the opposite of the con on the other side, which is really dealing with uncertainty. I’m uncertain. I’m not sure what’s coming. I’m just as ship being battered around by the waves. Whatever may come. Which one would you rather be? I would rather have a plan and that’s what we help people do. We help people do what the next pro is, which is take control, Eugene. It’s the opposite of really being a victim. You take control, you manage what you can, and you say, “I’ve worked hard for my money and property. Let’s get with a professional, let’s develop that plan. Let’s be proactive and take control of our future.”
Otherwise we’re really, as the con says on the other side, at the mercy of government statutes that are in place that already are set up to pass our money and property or to whomever the government has deemed necessary. Taxes. So we’re at the mercy of a state taxes, gift taxes, without any thought of how that works. We’re really just at the mercy of circumstance and those around us that are going to make those decisions for us. I don’t know about you Eugene, but I would rather be in control. I would rather think about it and take control. I’ve worked hard for my money and property and I’d rather take control on it and have that reflect my wishes to my charities, to my children, to the things that I want to help and help myself during my life.
And then we want to protect property that we’ve worked so hard for from liens, protect assets from liens that’s our next pro. Estate planning can certainly help that. But I might have a fear on the con on the other side of talking to an attorney, Eugene. I think many people have to get worked up to go see the attorney or maybe they have a misconception or a bad taste in their mouth, experience they’ve had with an attorney. Well, I would say that at our office, we try to make it as easy and smooth as possible. And we really believe in the utmost customer service and care when dealing with our clients and helping them develop an estate plan. Because we want them to get that next pro, Eugene, peace of mind.
The peace of mind that comes from the fact that we knew we should have done our estate planning for years. We don’t have a will in place even. And from finally finishing that will, that thought process, exhaling, we’ve got it done. So that peace of mind going forward. And we know that we can avoid probate where liens attach if we really think about it and that lengthy and more costly process, Eugene. But we might be scared of the cost or the cost might be a deterrent. I can tell you that we have payment plans. We have flexible plans. We work with people. There’s rarely someone we can’t help you, Eugene. So we try to make it as easy as possible.
You guys do make it easy as possible, but you also have a new magazine that you want to talk about. Tell me about the magazine and where can people get it?
This is the new 2020 edition of the Elder Law Report, print edition. We also have a digital edition. We’re making that available for our viewers today at mcelderlaw.com. It’s a great magazine that talks about estate planning. Boils about everything down into a magazine. Really nice, great pictures. Great, great content. So please, mcelderlaw.com/magazine.
And what else are you guys offering, to?
Free consult. So if you go to mcelderlaw.com/magazine, it’s our civic duty right now during this time that we’re giving free legal advice and consults. We’ll sign you up for that when you go to that link.
So don’t forget the website is mcelderlaw.com. The magazine that you can get it at mcelderlaw.com/magazine. Also, the telephone number is (704) 749-9244, (704) 749-9244. And Greg, thank you very, very much, sir.
My pleasure. Thank you.