Why There Really Is No Such Thing as a Simple Will

Yes, it's true, there is no such thing as a simple will. Here's why:

As a wills and trusts lawyer, I am asked every day about "simple wills". The interesting fact is that there is no such thing.

As is discussed below, when most clients ask for a "simple will" they believe they will save money, time and complexity. Unfortunately, the opposite is usually true. Simple wills are a misnomer because they simply don't exist once EVERY client asks themselves several questions. More on those later.

The most important that there are no "simple wills" is the differences between families. While this should be evident, many people pretend there are no differences. Let's start with just two families which appear below.

Especially today, family has an expanded meaning. EVERY family is different from every other family. In the first picture, our family includes the parents of one spouse while in our second picture, the family structure is different. Your takeaway is that every family is different, every client is different meaning that every family's estate plan will be different.

Here are the questions to ask to see if your will should be like your neighbor's will:

1. Are you married to the same person?
2. Are your medical situations identical?
3. Do you have the same children with the same needs and medical histories?

As you can see, it is impossible for different families to be the same.

To an estate planning attorney like myself, this concept is fundamental. However, I can't tell you how many wills I have had to fix when a client tried to copy a friend's will or one from the internet. If your family's individuality is not considered in your will or estate plan, how do you know that plan will work? The answer is that you cannot.

The essence of estate planning is the uniqueness of your family and this is why your will, your trust and your estate plan will not look like your friend's or neighbor's. In the article below by attorney, Robert Fleming, these concepts are discussed as Fleming explains why there is no such thing as a "simple will".

The Myth of the Simple Will

Let me know if you agree or if you have any questions about this or any of our articles as we explore the world of wills and trusts and estate planning. Thank you.

Bernie Greenberg

Holiday Time is Estate Planning Time

Happy Holidays!

Yes, it's that time of year again, it happens every year, the holidays are upon us with Thanksgiving this coming Thursday.

If you follow my articles you know that I have written many times about the holidays also being estate planning time. In this article, we'll explore how that happens.

Estate planning attorneys notice what times of year that clients want to discuss and do wills and their estate plans. I have tracked this for the past 33 years. Generally from near the end of October until the end of January is the time. That tracks exactly with the holidays.

I have asked many clients about this and always the same answers come back. "Well, the holidays are time for family, and in thinking about my family I want to make sure they are protected, so let's get that estate plan done". There are many variations on this theme, yet the theme is always the same.

This is why I say, holidays = family time and family time = estate planning time. This led to a series of articles I began years ago about gifts we give at the holidays. The best gift of all we can give to our families is the gift of peace and security and the best way to give that gift is through your estate plan. You may notice me asking every year if you have given the gift of a current estate plan to your family. In fact, I'll ask you again here, have you given your family the gift of a current will or estate plan?

Since so few adults in the U.S. have a current will or estate plan, it is my goal to motivate people to protect themselves and families through the gift of estate planning.

What besides family do the holidays make you think about? Let us know and please join our conversation by commenting or by sending us an email. We wish you and your families the happiest of Thanksgivings this and every year.