Estate Planning Pro Tip: Always Have a Back-up

Estate Planning Pro Tip: Always Have a Back-up

By Melinda Gustafson Gervasi

February 19, 2024

The "back-up" lunch bags

Oftentimes what prompts a client to schedule an appointment with me is either a Stage 4 cancer diagnosis, the death of loved one that caused a chaotic mess they wish to avoid for themselves, international travel from which a fear of our own mortality rises up enough to make someone want a will, or it is simply a New Years Resolution.  Rounding out the Top 5 motivations I've noted to prompt a client to create an estate plan is the birth of a child.  These are some of my favorite meetings because the chances are good the couple will bring their newborn infant to the signing.  With two teenagers in my home, time with a newborn is a precious moment.

As any seasoned parent would, I will offer the new parents a tip or two.  I avoid the rote advice of "sleep while you can" for those meeting with me prior to the birth or "sleep when the baby sleeps" for those with a bundle in their arms.  Instead I offer the idea of "always have a back-up".  Whether it be winter boots, a lunch box, or the industrial sized peanut butter jar, my kids will tell you "mom always has a back-up".  I attribute this to my slightly over-the-top Type A personality and a strong disdain for the last minute scramble.  The word planner is literally in my job description.  At home I plan for the day the child leaves their winter boots at after school camp or the lunch box will be overnighting the school lost-and-found.  It will happen, it is a question of when.  And when it does, I pull out the back-up.  Now my back-ups are likely to be utilitarian, often a handy-me-down from a neighbor or a thrift store find. My frugality is about as strong as my planner behavior.  But, my mornings tend to be less chaotic and more calm with backups.  The back-up may not be perfect, but it gets the job done. This same approach works at the office.

A client will tell me, I want my daughter to be my agent on my healthcare power of attorney.  "Great" I respond, "and if she cannot act, then who do you wish to name?"  On and on I will ask this question for the various roles you appoint people to when creating an estate plan. If you are taking the time to create an estate plan, go the extra mile and make sure you have your backups in place.  You'll likely sleep better at night and avoid a scramble.

Thank you for reading, please share this post on social media if you found it helpful.  Remember that a blog is not legal advice, but a means to spark thought and reflection. Always seek the counsel of an attorney licensed in your home state for advice.  Be well!