The BIGGEST Problem Caused by No Estate Planning. (Video)
What is the biggest problem you and your family face without a plan?
Hi. I’m Gary the owner of DeWitt Law. We’re with you every step of the way. Schedule you FREE meeting at DeWitt dot law.
I want to tell you the biggest problem then how to solve it.
The biggest problem isn’t taxes, attorneys, or money.
The biggest problem is, if you don’t make an estate plan, you and your family lose control to the courts.
If you don’t make your own plan, the courts will decide who’s in charge and who gets what, when, how, and how much. They don’t have to listen to your wishes or your family’s wishes. The courts follow state law to make their decisions.
During your lifetime, if you lose control due to an accident, injury, medical incident, or dementia the court will decide who makes decisions for you. Your spouse and family don’t automatically have the right to make those decisions. Somebody will need to go ask a Judge for permission to make your decisions and sign your name. The judge gets to decide who that somebody will be. Even worse, the judge gets the final say in all the major decisions.
It doesn’t matter who you want in charge, usually the person that steps up and goes to court is the person named to be in charge. The other family members can contest the appointment, but it will cost many thousands of dollars to get done and drag you and them through the court system.
During the proceedings, everything becomes public record. If the Judge wants an inventory and accounting of your estate, then everything you have gets published in the public record.
After you are gone, during probate, the courts will decide who gets what, when, how, and how much. You and your family get no say in the matter. It is a matter of state law and is predetermined for you.
In Arkansas, your spouse is entitled to only 1/3rd of your personal property. Your spouse only gets a partial “life estate” in your real estate. This means that your spouse must share control and ownership with your children during your spouse’s lifetime, then the children get the real estate outright. Your spouse can’t sell without their permission, then they will only get the value of the partial “life estate.”
If you wanted children left out, too bad. Without a Will you can’t disinherit children.
The solution is to make your own plan.
You can stay in control by making your own plan.
Your plan takes the place of the State’s plan for you and your stuff. You get to call the shots and decide who makes decisions when you can’t. You get to tell your family who gets what, when, how, and how much. About the only thing you can’t do is to leave your spouse completely out.
Your family gets to avoid the frustrations, expense, and pain of going to court for probate and more.
We’re with you every step of the way. Schedule you FREE meeting at DeWitt dot law.