Wills and Trusts / Estate Planning

by | Oct 8, 2019

Will I die? When will I die?
These are the two questions that was first assigned to me during my Estate Planning class. People gasped in awe. “What kind of questions are those?”
We were given ten minutes to write what we would do if we knew we were about to die, of course for the sake of the assignment we knew we were going to die. What will we give to whom? Where will your child live? What will your child do alone in this world with loads of cash? Will he/she be taken care of? Who will take care of the elderly person you are responsible for? What will your employees do if you’re a business owner? Who will take care of your pets?
All these questions were yelled out as the teacher walked through filling the huge classroom. Now my mind is racing faster than he is shouting the questions. How would I be able to make all these decisions under this mind set? I’m at least being given the opportunity to write a quick Will and have the luck to know I’m dying and I still don’t know how to process all of this.
I SHOULD HAVE PREPARED. Taken that two hour meeting to sit with an experienced attorney and got all this sorted out because in real life I would not be given ten minutes.
Will I die is a question derived from people that don’t think that could happen, although they know it will happen to everyone eventually, people choose to ignore the hard reality of death.
When will I die is a harder one to fathom. We assume we will die once we become old not realizing that death can happen at any time.
Outside of the misconception people have the most common reason we don’t get this done is due to time, cost and the “I DON’T HAVE ANYTHING”. The time issue is just an excuse and myth if you ask me, if you have time to sit and watch a movie you have time for this, planning your life is worth the time.
The cost can hinder the want to do it, but think how much it will cost your loved ones that just lost you. Probate is very costly and lengthy. The“I Don’t Have Anything” is a tricky one. I once didn’t have anything, not realizing that I myself am something. If I become disabled who will care for me? Who will have the right to represent me on my accounts? If I don’t want to be resuscitated who will know? I don’t want to be in a bed for months knowing I won’t come back, leaving my family with loads of debt.
These are things that are included in your Wills and Trusts/ Estate Planning. The Medi-Law Firm will create an entire plan for you that will cover all your corners. We stride in protecting our clients and their families.

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The Medi-Law Firm

2151 S. Lejeune Road Suite 306

Coral Gables, FL  33134

Phone:  305-444-3484

 

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