What's More Important Than an Estate Plan? The Act of Planning!

What's More Important Than an Estate Plan?  The Act of Planning!

By Melinda Gustafson Gervasi

September 16, 2024

OMG! Austin, in AUGUST! Are you both nuts???? My teenage son scoffed.

It will be hotter than Hades, this is crazy! Yelped my soon-to-be high school daughter. 

And so began our family discussion of driving from Madison, Wisconsin to Austin, Texas. In August!

It was early summer, and my husband and I had decided to chip away at our goal of taking our children to all 50 states. By Fall they would both be in high school.  The window for family vacations was narrowing. So I cooked up a route that would take us to 5 Presidential Libraries as well as towns with friends and family.  

My son, the elder of the two kids, realized this was not negotiable. We were going.  He is my realist and commented to his sister “well, they’ve made up their minds, we might as well look up good places to eat along the way!” 

And so it began; a 2500 mile road trip. We pulled out of Madison on July 31st with a plan:

• First stop - Iowa to see friends and visit the Hoover Presidential Library in West Branch, Iowa;
• Second stop – Kansas to see more friends and visit the Eisenhower Library in Abilene, Kansas;
• Third stop – Dallas to see family and visit both the George W. Bush and George HW Bush Libraries;
• Fourth stop - Austin, Texas to see the LBJ Presidential Library; and
• Fifth stop - Oklahoma City to see the Alfred P. Murrah Federal Building Memorial and the National Cowboy & Western Heritage Museum.

Backing out of our driveway with our vehicle packed with luggage and snacks, we reminded ourselves we have a plan that is subject to change.  Over the years our travels have included many mishaps forcing us to change plans due to illness, poor travel conditions, and vehicle troubles. 

Planning, it turns out, was also a topic of interest for our 34th President. On Day Two of our travels I found myself pausing in front of a poster in the Eisenhower Library.  “Plans are worthless, but planning is everything.” 

Image by M. Gustafson Gervasi, 2024

I was on vacation, yet my work mind instantly kicked into gear.  As an estate planning and probate attorney, the paradox created by Eisenhower’s quote caused me to pause and reflect on its meaning, and it has prompted others to write research papers on the apparent contradiction (click here for a link to one).  From my viewpoint an original plan may never happen due to constantly changing circumstances. However, there is great value in the planning itself.  Having a base plan allows for contingencies to come about more easily than if there had never been a plan.  Also,the process of planning helps us get our affairs in order to an extent better than if we had done nothing at all.

For those needing to create an estate plan, consider the following:

• Who do you want to make financial decisions for you if you are alive but too sick to act on your own?  If that person is unable to act, who is a good back-up?
• If you are unable to make your own health care decision, who in your circle of family and friends is best suited to speak for you?  Again, if that person is unable to act, who is a good alternative?
• Upon your death, who is the appropriate person to handle your burial and funeral?  Here in my home state of Wisconsin that automatically defaults to your next of kin.  For many people this default does not reflect their wishes about who will handle the arrangements.  Who would you name?
• After you have died, who is the best person to handle your final affairs?  In Wisconsin, the person who takes care of the probate is called the Personal Representative.  In other states the term is Executor.  This person will gather your assets, pay your final bills, sort through your possessions, file the taxes, and ultimately distribute your assets.  If the person you name is not able to act, who would you name second?  Would you name a person at all, or might you opt to bank a bank or other institution to perform these tasks?
• What should happen to the money and assets that you have left over after all the taxes, medical bills, funeral costs and other liabilities have been satisfied.  You may have an obvious answer, “my spouse” or my “children”.  However, life may not unwind as you predict.  What if you outlive your spouse and children?  Would you name a nonprofit or neighbor who has become your chosen family?  

Answering the Who and What questions is good.  Taking it another step or two out by asking what if they are no longer living will force you to create a plan that adapts to changing conditions.  

As for our road trip, no one got sick, we didn’t have car trouble, no venues were closed.  Our original plan unfolded and we visited all 5 Presidential Libraries as well as the friends and family along the way.  We ate well, learned a lot, and made some wonderful memories.  We are now settled into our school year schedules and routines.  Be well and safe travels for those heading out to see the Fall colors or check out foreign ports before the snow flies.

If you found this post helpful, consider sharing it with others.  You can also sign up (upper right hand corner) to receive an email for future posts.  Keep in mind that a blog is not legal advice.  It is meant to spark thought and reflection.  Be well and thank you for reading!

Artistic Cowboy, Bush Presidential Library

Joes BBQ - Kansas City, KS

Sign - Austin, Texas Food Truck Court

Images by M. Gustafson Gervasi, 2024