![]() ![]() It saved me at least $250! (Many people choose to sign up for their legal benefit for one year solely to get their estate plan in place, but we find that a lot of people still procrastinate it and end up having to re-enroll. Thanks to my workplace legal benefit at the time, the cost was a mere $19 per month or $228 that year. After shopping around, I found that for a simple situation like mine (minimal assets, many liabilities), the cost was anywhere from $500-$1,000. Getting those legal documents established isn’t cheap. ![]() Medical Power of Attorney Advanced Health Care Directive (Living Will).This is where establishing those basic, yet utterly important legal documents came into play: My wife and I had to think about what would happen to our children or each other if something happened to either or both of us. I worked, I played, and I worked some more. If your company has a legal benefit, then it just got a whole heck of a lot easier and cheaper for you.īefore I had children, I had very little to worry about. The bummer is that we never know how much time we have left to take care of this stuff.Īnother reason we tend to put off estate planning is because of the cost. Part of it is that most of us don’t really like to think about our own demise and for the most part, we tend to feel like we have plenty of time to do it “later.” The reality is that it is all about protecting yourself and the ones you love the most in the event something tragic were to happen to you. 1) Establishing or updating estate planning documentsĮstate planning is an essential part of everyone’s financial life plan, yet it is often the part that tends to be overlooked or deprioritized.
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