I truly enjoy and look forward to Sunday! My policy is not to work on Sundays and I try real hard not to even think about work or other responsibilities. I sometimes hear a Gospel song that contains the lyrics “everyday will be Sunday”, and that makes me dream about another place in another time. However, Monday comes all too soon and it’s back to the salt mine.
I am what some might call a “shopaholic” and over the last several decades I have accumulated a bunch of stuff. I sometimes wonder what it would be like not to have to be concerned with the responsibility of having so much because anything you have of value requires a lot from you. You have to insure it, protect it, and maintain it. Having an estate plan is just as bad. I wish I could tell a person that making an estate plan is like taking a vacation: you plan it, do it, and then enjoy great memories. Unfortunately, I would probably lose my license if I told people that because the truth is that an estate plan is another valuable asset you have to be responsible for.
You should treat your estate plan like you treat all of your other valuables: you should insure it, protect it, and maintain it. You insure it by putting it in writing. You may have told your family what your desires are, but putting them in writing is great insurance that your plans will be carried out. You have to protect your estate plan by keeping all of the original documents in a safe place, one that your successor agents or benefi ciaries know about. Maintaining the estate plan is perhaps the most diffi cult task because changes in our circumstances and/or relationships often require us to make changes to our estate plan. Births, deaths, divorces, marriages, physical relocations, changing relationships with agents or beneficiaries, and changes in health or fi nances are reasons to update (maintain) an estate plan. If you don’t have an estate plan, you have one less thing to worry about. In fact, you can be assured that the State of California has a plan to take care of everything for you when the time comes. As for me, I’m still looking forward to next Sunday.
© 2019 by Marlene S. Cooper. All rights reserved. (Marlene S. Cooper is celebrating 40 years of practice! Her practice is focused entirely on estate planning, estate administration and probate. You may obtain further information at www.marlenecooperlaw.com, by e-mail at Marlene@MarleneCooperLaw.com, by phone at (626) 791-7530 or toll free at (866) 702-7600. The information in this article is of a general nature and not intended as legal advice. Seek the advice of an attorney before acting or relying upon any information in this article.