Procrastination

There appears to be many definitions for procrastination. The common definition is the act or habit of putting off or delaying, especially something requiring immediate attention.

My point here is that “procrastination” is the biggest estate planning mistake.

I can’t tell you how many people tell me they have to make a Will, update their deeds and advance directives, but that they will do it tomorrow or next week.

In other articles, I have stated that less than 40% of us have our legal affairs in order and about 50% of those people need to update their documents. Many are out of date and have the wrong people designated as Executors or Agents.

Many articles have been written by me and others about getting one’s affairs in order. If you wait too long to create your documents, you may be physically and/or mentally unable to do so. I have met with many clients in the hospital or nursing home who are unable to discuss their affairs and unable to create and sign their documents.

If you want to be in control of your afterlife, in the legal sense, you must act while you can. You can be in control and name the Executor or the people you want to be in control.

If you are unable to put your affairs in order, your state has a plan in effect and you will be subject to your state laws. You may not like the outcome and you will not have any control on who is in charge.

I had a situation where the husband was mentally incompetent and had to go to a nursing home. The man did not have a Power-of-Attorney, did not have a Health Care Power of Attorney nor a Living Will. The wife applies for guardianship and she and none of her children qualified under the state rules to be guardian. The Court appointed a non-family member to be in charge as guardian. The family lost control over everything. If the proper documents were in place, none of this would have happened.

Don’t procrastinate—make a decision today to get your legal affairs in order! I always recommend that you seek out an attorney that is qualified in the estate planning area.

Questions, comments or ideas about future articles contact me at jurban.gcu@GCUusa.com.

Atty. John J. Urban