Estate Planning stinks.
No one likes it. It is boring, emotional, time consuming and expensive.
"Let's talk about your death, and how you would want your finances to be handled."
It's a “tomorrow thing.” Kind of like flossing - if you don't do it today, it’s probably fine, but you should start eventually.
Most people who are really motivated to take care of their estate plan have been unfortunate enough to see the importance firsthand - in a good, or a bad outcome.
What if there was a cooler way to do estate planning? What if we could make it more fun, more meaningful, more creative, more impactful?
It would be something ongoing, a life-long project. Not just a few notarized documents collecting dust on the top shelf of our closet.
No, we are not saying to avoid the traditional stuff. That is still very important.
We believe in getting your house in order, whatever that may mean for you - Trust, Will, Financial Power of Attorney, Health Care Directive, all of the above.
Get that done first. Then we move onto the fun stuff.
Instead of thinking about being the one dying, think about being the one who is still around. What would you want?
If you lost a loved one, what are some things you would want? What are some things that you would pay a lot of money for?
Their life story in an interview format? Love letters? A list of all of their favorite things? Amazing memories (with photo/video) of time spent together? Voicemails?
There are definitely things, aside from more time, that we would love to have from our loved ones.
There are ideas that we've found fascinating.
I've heard of some parents snagging up an email address for their kid. They will give it to them when they're 18. Every so often they will write them an email - an update, or a note.
Others will write handwritten notes. Some will do video recordings and interviews. I've heard of one parent creating audio recordings.
That's pretty cool.
I first learned of this when having a conversation with an estate planning attorney about alternative ways to leave a legacy. It later hit home when a favorite sports media personality passed away. It was a sad story - sudden passing, leaving behind a wife and young children. Textbook sad.
An interesting thing that I realized, despite the sadness, was this: How cool is it for these kids that there are countless articles, videos, podcasts, and other forms of content that their Dad created. Though there will always be a void without having or getting to know a parent, they can certainly get to know them in some capacity.
For many, there are people out there that we "feel" like we know - even though we've never met. It could be from movies, interviews, books and so on. "We've never met, but I know everything about you and feel like we would be best friends if we knew each other." This isn't necessarily a delusion either. If you've watched dozens of someone’s “daily vlogs” on YouTube, you probably have a pretty good idea of who they are.
It is important to remember that not everything has to be done for "when the day comes.” Obviously you don't want to neglect spending time with your loved ones today. Try to avoid this - "Dad was never around, but it looks like he spent hundreds of hours making sure we knew who he was after he was gone." There is a balance, as there is with everything.
Below you will find examples of items that may be valuable for a loved one if you were to pass away.
Should you have any questions about estate planning, please don’t hesitate to reach out to us or to an estate planning attorney.
Books & Articles
That you wrote, read, or were featured in
Letters & Emails
That you wrote or received
Photos & Videos
That you took or were in
Interviews
With you as the guest or host
Favorites
Shows, Movies, Writers, Actors, Comedians, Singers, Musicians, Songs
Recipes, Activities, Foods, Places to visit
Things: Cars, Tools, Scents, Products
Beliefs
Diet, Exercise
Parenting, Life, Religion
Policy, Business