By: Barry Allen- President & CEO
Why do so many adults procrastinate when it comes to putting in place an estate plan, and especially given the downside risks and potential financial and emotional costs to one’s family by not having a plan in place if he or she becomes incapacitated or dies?
From our experiences in conversations with those with whom we come in contact as we speak in churches, we have discovered some common themes among those who have confessed to being a procrastinator. Some simply dread pondering matters related to death and incapacity. Others find it awkward to discuss such matters with family members or professional advisers. In some instances people conjecture such planning will be too costly and an unnecessary expense given their modest estate.
Taking charge and planning ahead is worth the effort and expense, and it’s biblical. The Apostle Paul advised and warned the Christians of his day and now us Christians today if we did not anticipate future possibilities and realities and put in place a plan to accommodate them we have “denied the faith and are worse than an unbeliever.” (1 Timothy 5:8). By planning ahead you are in control of how and when that which God has entrusted to you will pass to your heirs and your charitable interests when you are no longer around or no longer capable of managing it.
Failing to have a plan, or update one’s outdated plan, is the biggest mistake one can make, therefore, it behooves you to take charge and not procrastinate any longer. Get those important documents, like a will, power of attorney, health care surrogate designation and living will directive, prepared, updated and executed promptly. We suggest you engage an attorney who practices in the estate planning field. We discourage the use of do-it-yourself on-line forms. An estate planning attorney will be able to produce the documents that are tailor-made to your particular situation and which conform to the laws of the state of which you are a resident.
To the extent we can help you get started with the process, please give us a toll-free call. There is no cost for an estate stewardship consultation. Also, invite us to conduct a Christian estate planning seminar in your church at no cost.
You can contact us at (502) 489-3533 or 1-(866) 489-3533
The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.