Baby boomers light on estate planning efforts

The Associated Press has a story out discussing how Most boomers don’t have living wills.  They also are light in other estate planning areas.  Estate of Denial® is often the first in line willing to point out probate abuse that occurs via the use of instruments like wills, trusts, guardianships and powers of attorney.  Living wills and healthcare proxies can bring their complications as well.  That said, we also would never want our message to be misconstrued as being against proper estate planning.

Though the current probate system is highly problematic, the answer lies in fixing it, not in the avoidance of action.  “The fix” is no easy task, but it is critical if America wants to continue on an ideological path similar to that which has served us well for centuries, a path which respects founding values like property rights, individual liberty and the rule of law.

In the meantime, our recent column, Can Texans (or anyone) protect themselves from probate abuse?, asked “what can people do to protect themselves, their assets and their heirs?”  And our answer was a disconcerting “not a whole lot.”

The AP article says:

Most people don’t want to think about death, much less plan for it — especially when they feel healthy and young in their middle-age years.

The proper response to that.  Too bad.  Estate planning is an important responsibility that comes with adulthood.

In today’s exploitative probate system, with proper estate planning your assets may sadly one day be “up for grabs” at the hands of disgruntled family members, wannabe heirs and/or a corrupt legal industry.  Without proper estate planning, your assets will absolutely be “up for grabs” at the hands of these same parties.  Estate of Denial® is working to diminish likelihood of the former, but we’ll still take it over the latter any day.