“I just need a simple will.”
That’s one of the most common things we hear from prospective clients. Sometimes they even apologize for taking up our time. They don’t have a business. Their estate is not taxable. They don’t own multiple homes. They just want a simple will.
Sometimes they’re exactly right.
When someone tells us they want a simple will, we almost never begin talking about wills. Instead, we ask some questions. Tell us about your family. Do you have children? Grandchildren? A child with a disability? A blended family? Anyone you deliberately want to leave out? And who should inherit your estate?
What assets do you own? And what kinds of assets? How are they titled? Who are the beneficiaries on your retirement accounts and life insurance?
What is your goal?
What are you hoping to accomplish with your estate plan? Which is more important to you: simplicity, tax minimization, control over future uses, or conflict avoidance?
Those questions usually surprise people. After all, they came in to talk about a simple will. Why are we asking about retirement accounts, beneficiary designations, family relationships, or long-term care?
A simple will may turn out to be exactly the right answer. If it is, we’ll happily tell you so. We don’t earn extra points for recommending a trust or adding more documents to your signing ceremony.
But before we can recommend a simple will — or any other estate-planning document — we need to understand the problem you’re trying to solve and the goals you value.
Sometimes that problem really is simple. A married couple with straightforward assets and coordinated beneficiary designations may need little more than well-drafted wills, durable powers of attorney, and health care directives.
Sometimes the problem isn’t simple at all. A child with special needs, a second marriage, a family business, concerns about creditor protection, or the possibility of future incapacity may point in a very different direction.
The important point is that the complexity lies in your circumstances, not in the documents themselves.
People often ask us what a simple will costs. That’s a fair question. And we’ll do our best to answer it after our initial conversation.
But an even better question is this:
“Is a simple will enough for me?”
That’s the question we enjoy answering. If the answer is “yes,” we’ll say so. If the answer is “no,” we’ll explain why. Either way, you’ll leave with something more valuable than a stack of legal documents.
And the final decision will be yours. We can explain what we think makes sense, but we don’t tell you what you have to do.
What we might discuss
If we’ve done our job, you’ll leave with confidence that your estate plan fits your family, your goals, and your life. And yes, you might end up with a simple will. We’ll also probably have you sign powers of attorney (both financial and health) giving someone authority to act for you if you become incapacitated.
We’ll also discuss who should act in each role, and who should be the back-up for that person. And whether the various roles should be filled by the same person, or different individuals.
And yes, we’ll probably talk about living trusts. Not to “sell” you one, but to let you know what the idea really means. And if you’re not a good candidate for a trust, we’ll arm you with the analysis so you can tell your broker, accountant, banker, family members, friends and neighbors why you didn’t make that selection.
We don’t sell documents. We sell peace of mind. Peace of mind begins with a conversation.
