When It Becomes “Too Late To Plan”..

10 Oct 2022 · 1 min

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In this monologue, the speaker warns that postponing estate and incapacity planning leads to serious legal and emotional consequences. He explains two scenarios: (1) dying without a will or trust, which subjects the estate to the state’s intestacy laws, and (2) becoming incapacitated (e.g., due to dementia), which forces families into guardianship proceedings that vary by state, require lawyers for both parties, and involve medical testimony. The speaker emphasizes that these processes are unpleasant, costly, and burdensome for loved ones, urging viewers to plan early with wills, trusts, or other advance directives to avoid these outcomes.

Chapters

I've never met anyone who is excited about planning for their own death, but in every life, at some point, it becomes too late to plan. These are the consequences of waiting too late to plan. Fall into one of two categories. In the first category, you die before you do any planning. When that happens, you're subject to your state's plan for people who die without a will or a trust. The second category of people who wait too late to plan are those who become incapacitated because of dementia or some other physical condition that can no longer make decisions for themselves. When that happens, the only option for planning is for someone to get guardianship. Over that person. Guardianship proceedings are different from state to state, but they are rarely pleasant. If you're the one trying to get guardianship, you have to get a lawyer for yourself. The court will appoint another lawyer for the person who needs the guardianship. Then a doctor will have to testify about the inability of the person to make their own decisions. Don't put your family through these consequences of waiting too late to plan.