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Living a Happier Life

Want to know a proven way to live a more fulfilling life?

All you have to do is fully accept the fact that one day you’re going to die.

“It is only in the face of death that man’s self is born.” -St Augustine

Countless healthcare professionals report that people facing terminal illness often experience an incredible sense of peace and fulfillment in the days and weeks before they die. Many of them describe the acceptance of death as a life-changing event, confessing they never knew what it meant to live until they knew they were going to die.

The same is true for many who undergo a near-death experience (NDE). After staring death in the face, they report that their lives have much greater meaning. They frequently make dramatic life changes because they know without a doubt that any day, even today, might be their last.

You’ve undoubtedly heard the key to happiness is to be fully present in each and every moment. This advice is also derived from acceptance of death. By accepting that death is inevitable, we’re inspired to embrace every second of our lives with more gratitude and joy because we know that our existence is so fleeting.

If you’ve been avoiding thinking about and preparing for death, you may be missing out on an incredible opportunity. What all of these experiences show us is that death is an essential part of what makes life so sweet.

One of the biggest steps in accepting death is to prepare for it with proper estate planning. And proper estate planning is needed, regardless of how big or small you think your estate is, because no matter what, your family is going to have to handle whatever you have when you’re gone.

Indeed, facing life’s greatest fear head-on and using it as a chance to protect and provide for your family is one of the greatest gifts you can give yourself and those you love.

If you’re ready to begin truly living your life, start by working with us to properly plan so that you can save your family from  confusion and conflict. Contact us today to get started by scheduling a  Planning Session.

This article is a service of Myrna Serrano Setty, P.A. We don’t just draft documents, we help you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Planning Session, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. Call us today and mention this article to find out how to get this $500 for free.

When Something is NOT Better Than Nothing – Part 1

Online you’ll find tons of websites offering cheap wills. Simple wills, for example, often cost less than $50. And you can complete and sign the forms pretty quickly.

In our super-busy lives and DIY culture, this might seem like a good deal. You know estate planning is important, and even though you may not be getting the highest quality plan, those documents can make you feel better for having checked this item off your to-do list.

But this is one case in which SOMETHING is not better than nothing, and here’s why:

A False Sense of Security

Creating a DIY will online can lead you to believe that you don’t have to worry about estate planning anymore. You got it done, right?

Except that you didn’t. You thought you “got it done” because you went online, printed a form, and had it notarized.  But you didn’t bother to investigate what would actually happen with that document in place in the event of your incapacity or when you die.

In the end, what seemed like a bargain could end up costing your family more money and heartache than if you’d never gotten around to doing anything at all.

Creating a DIY will can lead you to believe that you no longer have to worry about estate planning. In the back of your mind, you might even promise that one day you’ll revisit and update your plan with something better. But chances are, having done “something” will lead you to put this off until it’s too late.

At least if you do nothing,  estate planning will still be on your to-do list. (But then you’re at the mercy of the state’s “default settings,” which might really go against your wishes for yourself and your family.)

It’s More Than Just a Document. 

Unfortunately, many people don’t understand that estate planning involves much more than just filling out legal documents. So they end up making serious mistakes with DIY plans. Worst of all, these mistakes are only discovered when you become incapacitated or die, and it’s too late. The people left to deal with your mistakes are often the very ones you were trying to do right by.

The main purpose of wills and other estate planning tools is to keep your family out of court and out of conflict in the event of your death or incapacity. With the growing popularity of DIY wills, thousands of families have learned the hard way that trying to handle estate planning alone can not only fail to fulfill this purpose, it can make the court cases and conflicts far worse and more expensive.

Watch Out For Hidden Dangers!

There are many potential dangers involved with DIY wills and other estate planning documents. Estate planning is most definitely not a one-size-fits-all deal. Even if you think you have a simple situation, that’s almost never the case.

These are some of the most common complications resulting from DIY wills:

#1 Improper execution:

For a will to be valid, it must be executed (i.e. signed and witnessed or notarized) following strict legal procedures. Such procedural requirements are designed to prevent foul play and vary by state. For example, many states require that you and every witness to your will must sign it in the presence of one another. If your DIY will doesn’t mention that or you don’t read the fine print and fail to follow this procedure, it can be worthless.

#2 Court challenges:

Before the assets covered in a will can be transferred to your heirs, the will must go through the court process called probate. During probate, creditors, heirs, and other interested parties have the chance to contest your will or make claims against your estate. Though wills created with an attorney’s guidance can also be contested, DIY wills are far more likely to be challenged.

#3 Thinking a will is enough:

Very rarely is a will enough to handle all of your legal affairs. At your incapacity, you would also need a health care directive and/or a living will plus a durable financial power of attorney. At your death, a will does nothing to keep your loved one’s out of court. And if you have minor children, having a will alone could leave your kids at risk of being taken out of your home and into the care of strangers, at least temporarily.

In many ways, DIY will planning is the worst choice you can make for the people you love because you think you’ve got it covered, when you most certainly do not.

If you’ve yet to do any estate planning at all, have DIY documents you aren’t sure about, or  created a plan with another lawyer’s help that hasn’t been updated or reviewed in the past 2 years, call us. We can help keep your family out of court and of conflict when something happens to you.

This article is a service of Myrna Serrano Setty, P.A. We don’t just draft documents, we help you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Planning Session,  during which you’ll get more financially organized than you’ve ever been before, and make all the best choices for the people you love. Call us today to schedule a Planning Session and mention this article to find out how to get this $500 session for free.

In part two of this series, we cover one of the biggest dangers with DIY wills.

What to Do With a Cash Windfall

Many of us like to fantasize about winning the lottery. We talk to our friends about how we might spend the money, and we dream about never wanting for anything ever again. Although the odds of winning the lottery are very small, there are other ways that we might come into a major amount of cash in our lives, usually in the form of an inheritance, from a business sale or perhaps even though the settlement of a legal claim.

If you do receive such a windfall, planning ahead beforehand is critical, so that it can be available to benefit yourself, and also your loved ones even after you are gone. Unfortunately, without planning, most people who receive large amounts of money lose it almost as quickly as they receive it.

If you see a windfall coming your way, consider the following steps.

1. Consider putting any large cash amounts you receive into an asset protection trust.

You may even want to consider appointing a co-trustee to govern the trust alongside you. This will mean you can honestly tell friends and family that you do not have unrestricted control to your assets when they come asking for handouts.

2. Hire an advisor you trust to help you invest the assets you receive in a manner that is aligned with your values.

This will support you in using the money in the long-term life you desire; if you need recommendations to a trusted investment advisor, contact us.

3. Update all of your own estate planning documents, including your Will, Revocable Living Trust, Health Care Directives and Power of Attorney, and establish a relationship with a personal estate planning lawyer.

This is so if and when anything happens to you, your family will be supported and they can stay out of court and out of conflict.

 

This article is a service of attorney Myrna Serrano Setty. Myrna doesn’t just draft documents, she helps you make informed and empowered decisions about life and death, for yourself and the people you love.  That’s why we she offers a  Planning Session, during which you will get more financially organized than you’ve ever been before, and make the best choices for the people you love. You can begin by calling our office today at (813) 514-2946 to schedule a Planning Session.