Value Freedom Here’s Why an Estate Plan Is Your Declaration of Independence

As you celebrate the Fourth of July and all it represents - freedom, independence, and the pursuit of happiness - take pride in the ultimate American liberty: the right to decide your own affairs, even after death or in the event of incapacity. An estate plan, specifically a Life & Legacy Plan, is the way to express your liberty. It’s your personal Declaration of Independence. I know; it sounds weird. How in the world can an estate plan give me freedom?

Here’s how: Creating a Life & Legacy Plan (a unique estate planning process I use in my firm) preserves your self-determination, protects your family, grows your wealth, and defines your legacy on your own terms. Just as the Founding Fathers declared freedom from the British crown over two centuries ago, your Life & Legacy Plan declares your autonomy from the courts, state laws, and conflicting viewpoints that could unravel your final intentions.

You Have a Plan: It Just May Not Be What You Want

The first thing to know is that you already have a plan for what happens in the event you become incapacitated or when you die. You may not know what that plan is, and you may not like what that plan is! You see, the government has created a plan for you, without your input. Or, you may have already created your own plan, but didn’t really understand the choices you made, haven’t updated it, or may not even own your assets in a way that has them covered by your plan.

When you have a Life & Legacy Plan, you get to override the government’s plan for you with your choices. YOU get to decide exactly how you want your assets collected and distributed - whether that's providing for certain loved ones over others, leaving assets to chosen family members, who aren’t related by blood or marriage, but who have become close kin to you by choice, or donating portions to charitable causes near and dear to your heart.

With a Life & Legacy Plan in place, you maintain that plan throughout your lifetime, so as your assets change, your life changes, and the law changes, so does your plan. It grows with you, rather than becomes stale and outdated over time. Because you aren’t a stagnant human. You are evolving, changing and likely growing. Your plan needs to evolve, change and grow along with you, otherwise it’s not even worth the paper it’s written on.

The Liberation of Making Your Decisions With Eyes Wide Open

Planning for death or incapacity is the equivalent of planning for your best possible life for you and the people you love. You may have never thought of it that way. If you accept that you are going to die one day, or that you may become incapacitated first, then you’d want your family and assets to be cared for in a certain way. This thinking would naturally inform your choices when allocating your resources from your life.

We call this “eyes wide open” decision-making. It leads to the most optimal use and allocation of your resources, and makes things as easy as possible for the people you love in the event of your incapacity or death. For example, when you consider how you want to be cared for in the event of your incapacity, and document those choices, you can then ensure you have the necessary close personal relationships to deliver on your desires, as well as the required financial means to provide for yourself or the people who will care for you (or your kids). Otherwise, you are just leaving it up to happenstance … or a judge … and we call that “eyes squeezed shut/pretend it’s not going to occur” decision-making- this is not responsible, mature, or kind to yourself or the people you love.

The Power to Choose

The most mature and responsibly loving thing you can do for yourself and the people you love is to clarify well in advance how you want to be cared for when you cannot care for yourself. A Life & Legacy plan answers the questions like who should make decisions for you when you cannot make your own and how you want those decisions to be made. Additionally, it’s critical to provide a roadmap for your loved ones so they know what you have, where it is and how to find it.

Establishing a Life & Legacy Plan does all of that regardless of how much or how little you have because, at the end of the day, your loved ones will have to deal with it. The choices you make while living with a healthy and clear mind will empower your loved ones to carry out your wishes. It will minimize their time, energy, and attention during a period of grief. We help you design a Life & Legacy Plan so you can account for special circumstances and considerations like children or spouses from previous marriages, loved ones with disabilities, or families you want to omit. No more worries about assets getting unfairly split or ending up in the wrong hands.

Finally, holding a family meeting can unite your loved ones around a shared understanding of your intentions rather than driving them apart through conflicts and differing interpretations of your wishes. Your Life & Legacy Plan gives you the power to choose to create more ease for yourself and the people you love.

A Declaration of How You Want to Be Remembered

Your Life & Legacy Plan represents your final declaration of the values and life experiences you'll impart to loved ones and the world at large. Use this opportunity to put your final stamp on how you want your individuality and life's purpose remembered, rather than leaving it up to chance, or leaving a legacy of mess and drama.

All of our plans include a Life & Legacy recording that guides you to express your deepest hopes, guiding wisdom, and ethical frameworks acquired over decades of successes, struggles, and personal growth. You will share cherished stories, meaningful quotes, and carefully cultivated philosophies that give your life meaning. The Life & Legacy recording is the most meaningful gift your family will cherish and carry into future generations.

This Independence Day, make your own personal declaration of freedom by establishing your own comprehensive Life & Legacy Plan. Take pride in exercising your liberties to the fullest by removing all uncertainties over your final affairs and ensuring your true wishes will be honored.

Let Us Be Your Life & Legacy Planning Partner

As a Personal Family Lawyer Firm, Life & Legacy Planning is all we do. We work with you to craft a plan on your terms, taking into account what you want, not what someone else has decided for you. And once you’ve created your plan, you can rest easy knowing your wishes will be honored, your loved ones cared for, and your legacy preserved.

Contact us to learn more about how we help you exercise freedom over your own choices. Click here to schedule a consultation: