In this Elder Law Minute, Wes Coulson explains how it’s worth it to take the time and money to get your estate plan in order because most times you only get one opportunity to get it right.
Video Transcript:
Greetings, I’m Wes Coulson from Dent Coulson Elder Law, and this will be your Elder Law Minute. We’re happy to present these because we think we can help inform you as to the ways in which we can help you and the things that you need to think about relative to the elder care and estate planning journey. Hope you enjoy.
I remember many years ago when my older son, who has just turned 40, was about 12 years old and I was trying to have a discussion with him about what I do and how it frustrated me when people would just go online to get a will or a power of attorney done. You know, just saying, ‘Well, why spend the money on a lawyer because I have one now?’ And I said, ‘How do you explain to people how that’s a mistake?’ And he thought for a second, and in wonderful 12-year-old style, he said, ‘Well, Daddy, just tell them there aren’t any do-overs.’
And I said, ‘That’s interesting. What do you mean?’ And he said, ‘Well, aren’t people like getting really old when they do that stuff?’ ‘Uh, yeah, most of the time. I wouldn’t advise it, but yeah, most of the time.’ He goes, ‘Well, because if they mess it up the first time and they don’t know any better and they die, they’re stuck with it. They don’t have a chance.’ You know, a lot of life is we mess up and we do better the next time, but generally speaking, when you’re doing wills, trusts, and powers of attorney, I don’t know a lot of people who have redone them. It happens occasionally, but most of the time what you do the first time is what you’re going to have when the rubber hits the road. And those documents are really important.
So keep that in mind when you consider whether it’s worth the expense of a good lawyer to get it done correctly. If you mess it up, you’re stuck with it. There aren’t any do-overs.
Thanks
Also looking for information about Medicaid and Asset Preservation? Visit these articles:
“Your Trusted Advisor on the Elder Care Journey”
Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (618) 632-7000 (IL) or (314) 567-9292 (MO), or Contact Us and we will get in touch as soon as possible.
