LEGALLY SPEAKING
by Amanda Roggenbuck

Recently, I was talking to some clients and they informed me that it was not necessary to have an estate plan in place, because their kids knew their wishes and would not fight over anything. I had to stop for a minute, because they are not unlike a lot of my clients who have tons of excuses to justify not spending the time or money to plan for the future. I am not sure who said it but it is true: "In life there are two certainties, death and taxes." This month I thought I would share some of the more comical, I mean common excuses I hear from clients almost daily. I will also share with you a few reasons why these are not good excuses.

1. "It costs too much to have my lawyer draft a trust." - Did you know that if an estate needs to be probated the court charges a filing fee that in most cases is at least $150; then there is an inventory fee that is at least $25 per $1000 of property and $363 per $100,000 of property. Add in costs of multiple lawyers, aggravation, and ruined relationships and the upfront cost to set up an estate plan suddenly is not so high.
   
   
2. "My kids will make sure my wife is taken care of." - Many times people's agendas change when money is involved, especially when they are grieving. I recall occasions when a client comes in after a spouse dies and the children are in the process of having the surviving spouse declared incompetent.
   
   
3. "I can buy a will at the store or on the Internet." - A $20 will could save you nothing. It may cause legal challenges and actually result in higher legal fees.
   
   
4. "I can just write my wishes down; my family will honor them." - It is not always up to your family; judges, doctors, lawyers, and family and friends all can have a say in your medical care and financial well being, as well as your estate division.
   
   
5. "I'm not going to get sick or die - why do I need these documents?" - Do I have to point out the obvious? Hopefully you won't ever get sick but you will die some day.
   
   
6. "My family won't fight over what I own; there really isn't anything to fight over." - I have observed families spending more in court costs and attorney fees than an entire estate is worth. Remember these family members are grieving and some may feel a lot of anger for any number of reasons.
   
   
7. My personal favorite, "If my kids don't get along and share everything equally, I will haunt them." Depending on your beliefs do you really want to spend eternity chasing down your kids?

The long and short of it, there is no reason to not plan for your future. Your financial well-being is at stake; your family harmony could be jeopardized; and your piece of mind is worth it.

Amanda Roggenbuck can be reached at her Cass City office at 989-872-8881, with office hours Monday through Thursday, 9 a.m. to 5 p.m. She also has office hours by appointment in Deckerville in the former Sanilac County Bank Building. Amanda would be happy to answer your questions in this column, and will address them as space allows. Please send your questions to editor@lakeshore guardian.com or by mail to The Lakeshore Guardian, 9697 Purdy Road, Harbor Beach, MI 48441.