Waiting until retirement to plan for the future can be a costly mistake, both personally and professionally. Often the years fly by and procrastination sneaks in until what was once “I’ll do it soon” turns into the present.
A recent article by the NY Times showcases exactly why preparing now is so important. After getting re-married late in life, Marie-Thérèse Ross-Mahé, age 85 moved to the US to live with her new husband. After her husband’s sudden death she found herself in dire circumstances: detained by ICE and battling over her late husband’s estate and wishes. As often happens when assets and estate plans are not created, a family drama ensued over who gets what and hearsay regarding what was truly desired followed.
Even though Ms. Ross-Mahé has been released back to France, the dispute over possessions and rights remains in probate. Her very own children, who reside in a different country, were unable to contact her while she was detained. The French Consulate played a key role in securing her release.
The case above, like the majority of probate and estate cases, could have been avoided with a proper, legally binding, and well planned out legacy estate plan and documented guidance for the future.
Top Reasons for Not Having an Estate Plan
Individuals often find themselves overwhelmed and not sure where to start when thinking about planning for retirement and the future. According to an article by Fox Business, in a recent survey of couples aged 45-70 who have retired or plan to soon, 93% of them share similar goals but over half have not set up an estate plan.
Among the reasons most individuals provide for putting it off is:
- Feeling overwhelmed and not sure where to start
- Not important in their stage of life
- Too legalistic and they aren’t sure how to process everything
- Their family already knows their wishes
- Too costly and time consuming
What a Legacy Estate Plan Includes
The Guardian’s Gift Time Capsule was created to help individuals and families preserve their past, prepare for the future and guide them along the way. Unlike a regular estate plan which often just includes legal documents, a legacy estate plan includes recorded key life events, future wishes, stories, memorabilia, values, and it allows you to create and record your legacy. With personalized guidance, you will be able to walk through your life from childhood through the present, step by step, ensuring that all important memories and documents are preserved while also considering your present stage of life all the way until death. Your legacy estate plan will include legal documents like a Will, Power of Attorney, and more. Our program is created to guide you as you go, with assistance available as much as needed, allowing you to move at your own pace until completion.
Delaying Until Retirement Leads to Costly Results
As shown in the case above, estate planning before retirement age can not only save you money but eliminate family chaos and stress. Homes, assets, guardianship, and huge financial gains are all at stake without a properly recorded and documented, as well as legally binding, plan.
Whether you’re feeling overwhelmed, tired of procrastinating, or you just don’t know where to start, contacting The Guardian’s Gift is the next step in preparing for your future. Try a free online demonstration today or contact us with any questions and take your future into your hands!
