VOLUME 18 | ISSUE 1
I had a roommate in college who wore a shirt that said, “Procrastinators Unite, Tomorrow!” more often than a conventional laundry schedule might deem appropriate. He’s very successful today so while the sentiment (or his laundry) has never held him back, it has always stuck with me as a great pun about a common human feature.
One of the places financial planners most often see procrastination and inertia take hold is in Estate Planning, and I get it. Everything else can seem straightforward in comparison. Taxes are an annual conversation with a recurring due date. Investment objectives and policy statements, while subject to personal preference and other squishy factors, can be made and monitored with math, and are rightfully brought to one’s attention on a recurring basis. And insurance, which some might think is by design a black box of industry-speak, has been commoditized to the point of “he with the funniest commercial wins”.
Estate planning, on the other hand, is fraught with decision points and few clear “right” or “wrong” answers. It touches family dynamics, ideas of fairness, and charitable potential simultaneously, all while dealing with such fun topics as incapacity and death. Timeframes can shift, people can come in and out of the picture. There’s no wonder it is one of the least attended-to trees in the garden. Our recent client survey confirms this – fully one-third of participants had not reviewed their documents in 5 years or more, and you can count me among them.
But areas with the greatest potential for complication are often the ones that deserve our attention the most. At Armor, we ask about things like documents, beneficiaries, and transfer wishes early and often, because waiting too long to have the right conversations could derail the other areas of your plan. Where appropriate, we will encourage you to engage an attorney who can help tailor things to your situation and desires. They might offer general guidance on a framework that suits your needs, prepare important documents, or even help you through probate administration.
Estate planning discussions may never feel as routine as filing taxes or reviewing investments, but their importance is undeniable.
By addressing key decisions while your intentions are clear and your circumstances stable, you can create a roadmap that reflects your values and protects your legacy. And you don’t have to tackle it alone; leaning on the right professionals and revisiting your plan regularly can transform what feels overwhelming into something manageable, meaningful, and empowering.
