Estate Planning as a Newcomer - What I’ve Learned
When it comes to estate planning, many of us may have already become familiar with the process and almost all of us have certainly faced the death of a loved one but what does this process look like internally? What does estate planning look like to someone who has had little to no prior experience within the industry & how does that shift over time?
Hi, my name is Zibad Rahman & in this article, I wanted to reflect on my experience with Spavins Legal & my journey through learning about the estate & legacy planning process.
A Little Bit About Myself
January 2021 marked not only the start of our second year within a pandemic but also my last year of university. As all college seniors do, I had started my search for an internship that would help me develop the critical skills I would need to survive in the real world post-graduation & it was through this, a little bit of luck & good connections through my school that I was able to land a position with Spavins Legal as a digital marketing intern. While I had never worked in a legal position before, I approached it with a positive & coachable attitude and relied on the little legal knowledge I did have - watching my lawyer mother handle work documents as a child.
Onboarding with the company & Jennifer proved to be very seamless and the service seemed fairly straightforward: save your family the mental hassles that come with the probate court process & allow them the necessary time & space to grieve by having a comprehensive plan for your estate and legacy that represents your best interests so that your loved ones can ease through the seasons of life with peace of mind. As the position continued however & I learned more about the company, the industry as well as being given the chance to have my own will & estate documents drafted by Jennifer, I came to learn many lessons which really helped me understand the bigger purpose behind estate planning. Here are my top 5 takeaways which you may find helpful when considering an estate plan:
You’re doing this for yourself...but more importantly, your loved ones
During my first estate planning document drafting session, Jennifer opened the conversation by asking me if I’ve ever experienced the loss of a loved one & when I think back to my life in the future, what do I want to leave behind. This not only made me consider my life as a whole up until this point but it also helped me realize, estate planning serves to make sure that your loved ones are protected and taken care of when you aren’t able to anymore. Be it parents you want to leave financial assets for, or children you want to leave inheritances for, estate planning goes beyond yourself. It goes to make sure your loved ones are taken care of to your standard.
Get ready for introspection & dealing with topics you normally don’t deal with
As mentioned previously, unfortunately in this field, death and loss are common themes we must deal with. When planning for unforeseen circumstances in the future for yourself, your parents, or your future generations, you will have to deal with topics that you may not necessarily wish to think about.
What will happen to my loved ones immediately after I die? What if I have children who need special assistance & require additional guardians? Who ensures my posthumous wishes are carried out as I intend them to be?
A good thing to keep in mind is that while these may be questions you don’t wish to deal with right now, by dealing with these topics head-on, you’re ensuring that you have an airtight plan for the future. An ounce of prevention is worth a pound of cure.
Education defeats fear
If you are still finding yourself unable to handle the topics of your own mortality or the mortality of your loved ones, try reframing the situation to one of education. Think of it not as preparing for the inevitable but rather as a learning opportunity to give yourself and your loved ones the know-how in the event tragedy strikes. Similar to purchasing insurance, it’s better to have it but not need it than to need it but not have it.
The mental tools are just as important as the documents
While it’s important that you make sure that you get the right estate planning package for you and your family’s needs, it’s also important to make sure that you are taking the time to prepare your loved ones mentally for the conversations that may ensue. Telling a friend or family member that you’ve just appointed them the executor of your will or your representative for your digital afterlife in a text message may not have the results you intended! Instead, focusing on having the mental tools that help you assess the information and convey it in a meaningful, positive manner such as through mindful practices and mindful conversations can not only help you get the results you want but also keep your critical relationships intact.
Not all estate plans & agencies are created equal
While this was the hardest lesson for me to wrap my head around as I had only worked with Jennifer & Spavins Legal, in my research & experience I had come to find that there are many industry practices that don’t help you get an estate plan that works with your life & grows with you. By looking for a few criteria (which you can access using our very own checklist for a comprehensive estate plan), you can ensure that you get the best plan for you and your loved ones and not one that sits on a shelf and gathers dust while your life moves on. This is especially important if you want to avoid the hassles of probate court.
If you want to learn more about what makes a good estate plan & how Spavins Legal may be able to help you secure your future legacy, use the button below to schedule a free consultation call to see if Spavins Legal is the right fit for you!