Do not put off protecting yourself and your family regardless of how old you are!

Good day everyone! A friend forwarded this article to me (see below for the link), and while I don't agree with all the tips in the article it is a good reminder that waiting until "the time is right" or until "I have more clients and extra revenue" which leads to "I'm too busy" is not prudent decision-making. It is a gamble...nothing more and nothing less.

A couple of other points to consider that relate to the article...

1) Updating your documents on a regular basis is always a good idea. Laws and family circumstances change all the time. Don't allow your family to go unprotected by not defeats the purpose of why you created the documents to begin with!

2) "Doing it yourself" - this is where the article and I go separate ways. The problem is that many "legal" (and I use the term loosely) self-help books and software programs are nothing more than a compilation of generic forms that were never really meant to be used for anything other than direction on how an estate planning document could look. They are what attorneys call "form" documents. Form documents don't take into account state specific laws (which are very important considering your douments will ultimately be subject to administration which is many times not only State-specific but also specific to the local customs in the local probate courts). They also don't take into account the fact that you are unique, and so is your family. Now that doesn't mean that your situation is "complicated." It means that your family has different needs, values, concerns and objectives than your neighbor's. Your estate planning documents should reflect that.

Furthemore, almost all "do-it-yourself" manuals will say something very important in the fine print that most folks don't even realize is there. It usually suggests that you should review any legal documents you create with a qualified attorney before assuming that they will work. Here is the rub folks. I don't know any qualified estate planning attorneys out there that would look at a form document (and they are easy for us to spot) that doesn't take into account state law, local customs, or family circumstances and give it a thumbs up. What does this mean? You paid for a book that did nothing but help you create a document that has little value if any, and you are paying an attorney to rewrite your documents so that they take applicable laws and your circumstances into account. My recommendation...don't waste your money on the book. You pay for the attorney either way...

To link to article click here

Browse the rest of our website to review some of the tools you can use in your Connecticut Estate Plan.