Winsor Law Group Blog

 By: Joseph G. Urtuzuastegui III

           October may be the greatest time of the year in Arizona, we have haunted houses, Halloween, Pumpkin Spice, and best of all, COOL WEATHER! To me, October has always been about spending time with my family and loved ones. My wife Cindy was born in October, we were married in October, and my mom is the Queen of Halloween (yes, a Halloween baby) to round out the month. However, this year October feels much different to me for two reasons. First, Cindy and I have purchased our first home, and second, in the midst of all that Cindy and I are expecting our first child in January (A little girl!). It feels like life is happening in fast-forward and all I can think about is “how do I protect my family if anything happens to me?” Fortunately for me I work for a law firm that helps people in my position on a daily basis, so the answer was clear: I need to protect my family with a plan if I am gone! But, you don’t have to work for a Prosperity Law firm to understand the importance of Estate Planning. Here are some tips to avoid a macabre trick on your loved ones.

          1. Prepare a Living Will to Avoid the Zombie Apocalypse. Preparing a Living Will is important to keep your family from being stuck in a little shop of horrors when making the toughest decisions they will have to face. Let’s use an example, say you are “chunkin pumpkins” at the annual Pumpkin Chunkin Contest and one of the air cannons explodes triggering a metal plate to strike you in the head sending you into a coma (This is not so far-fetched, even professional “chunkers” get hurt (Learn More)). Now you are in a coma, being fed through a feeding-tube, and you are basically a zombie without the appetite for brains (hopefully, don’t take the chance!). This is the moment your family and loved ones wish you had prepared a Living Will because without it your family not only has to deal with the emotions of the tragedy that happened, but now have to decide based on what they think you would have wanted. With proper planning, a simple Health Care Power of Attorney and Living Will could have informed a designated decision-maker of your wishes in this situation.
If you are reading this and thinking to yourself, “if it is so simple, why haven’t I done this?” Don’t feel ashamed, in fact you are in the large majority of people without a Living Will. An article published by the American College of Emergency Physicians found that nearly two-thirds of Americans do not have a Living Will (Learn More). So, if you want to prevent the zombie apocalypse and at the same time protect your family from making the hardest decision, prepare your Living Will.

           2. Create a Trust So You Can Rest in Peace. One of the hardest things for us as humans to accept is the fact that one day we will no longer be here to support our loved ones. Creating a Trust will bring your loved ones peace of mind and knowing they will have your support long after you have gone toward the light. But still, the topic of death seems taboo to even talk about though we all know it is inevitable. Maybe it is time we start thinking of creating a Trust in a different light. Let’s create an example, there are two doors in the haunted house. A voice comes over the loud speaker and tells you, truthfully, that the door on the right contains all your favorite things in life and the door on the left is infested with spider webs and snakes. Which door are you going to pick? Well, I don’t know about you, but it would be eerie to even think about picking the door on the left!
           So why isn’t it spooky when a person decides not to create a Trust when they really need one? Choosing the right door is what a Living Trust is all about. The Trust is filled with all of the good things you and your family need so that you can rest in peace.

           3. Get a Financial Power of Attorney So Nobody Steals Your “100 Grand.” A major aspect of planning your estate is ensuring your assets are protected while you are still alive. When choosing a financial power of attorney, you may think your choosing “Honest Abe” and when you get up close you realize, it’s just a mask, and underneath that mask, it’s the Boogie Man. When choosing who will be your power of attorney, it is important to choose a trustworthy person who you know will protect you and your assets when you are unable. This simple document can protect your assets and your future, giving you the peace of mind that if anything were to happen, your finances were in the hands of the ones you trust. A financial power of attorney is important for many different situations, including whenyou are stranded out of the country or undergoing surgery and need somebody to control your finances. So, don’t fall for the Boogie Man’s tricks, choose the right person to watch over your financials when you need it most.

These simple estate planning tips can save you and your family from going through a house of horrors. We are here to make sure you and your family prospers whether it is here on earth or from the great beyond! Wishing you a very Happy Halloween!

*The information provided in this article is of a general nature and reflects only the opinion of the author at the time it was drafted. It is not intended as definitive legal advice, does not create an attorney-client relationship, and you should not act upon it without seeking independent legal counsel.