Why Avoid Probate?
Well, guys, if you saw our last video, you heard me talk about wanting to show some of the success stories of what we’re doing ’cause I know it always seems like we’re talking about disasters or what went wrong or what could go wrong with an estate plan.
I wanted to spend a few videos talking about some success stories, and one of them that recently came up, and you guys have heard me talk about this over and over again, that what’s really important now because there really is no estate tax for most people, that what’s really important now is incapacity planning.
What you want to happen right now, if something were to happen to you, what do you want to happen so that you are taken care of during your lifetime.
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Estate Planning Story Time
So about 15 years ago, I did an estate plan for a really nice couple. Now, unfortunately, what’s happened recently is one of them has developed Alzheimer’s dementia and can no longer take care of themselves.
However, because we had created an estate plan for them and we had provided specific instructions and the wife had provided specific instructions on what she wanted to happen, where she wanted to go, we had come up with a plan 15 years ago and it had been updated.
Just like I want you guys to update your plans, and so we had updated over the years and now the husband needed that plan to work, and because we had created a revocable living trust centered estate plan, all of their assets, they did a really good job.
The two of them together over the last several years have done a really fantastic job of one coming to us for updates, and second, funding their trust, making sure all of their assets are in the name of the trust, in the name of the trust.
The unfortunate part of the story is the wife does have Alzheimer’s dementia now.
The good part of the story is that, since they created together a revocable living trust centered estate plan, the husband has been able to seamlessly continue to take care of all of their assets, their house, and to care for his wife exactly how she wanted to be taken care of according to her instructions. With a disease like Alzheimer’s, the husband may also have to contribute towards home care, probably provided by an NDIS Service provider or similar elderly and disability care organization. Due to all the estate pre-planning, the couple may not have to encounter as many issues as they might have if they didn’t have planned beforehand.
She’s still living, and her husband is able to fulfill her wishes and take care of her the way she wanted to be taken care of. So guys, that’s just one of the ways why a revocable living trust centered estate plan is so important.
I hope that doesn’t happen to anybody, but unfortunately, the possibility exists that at some point we are going to be incapacitated. With everything that’s going on right now…
If you’ve got a plan in place right now and you tell family members, both orally and in writing, and you have a plan in place of what exactly you want to happen, you’re doing two things.
Save Your Family the Stress at Emotional Time
The first one is you’re taking that burden off of your family’s shoulders of having to make decisions on what would mom want. Would mom want to go here, would mom want this to happen.
The second thing is because you’ve come up with a plan, you’ve given them instructions and directions on exactly what you want to happen. We hope that doesn’t happen to us, but how cool is that to know that you have relieved your family of that burden of having to make those and second, you’re going to be taken care of the way you wanted to be taken care of.
I know it’s sad to get to that point, but I consider it a success story that this lady, because of her steadfast planning and coming to us on a regular basis for updates, she has left a good plan in place, and her husband and her family are able to take care of her the way she wanted to.
That’s pretty cool. So if you got value today, can you do me a huge favor and hit the like button below, the one that’s shaped like a hand with the thumbs up?
And if this is your first time here, then please also smash that subscribe button. You don’t know how much that helps to have subscribers on this channel. Have a great day, and as always, have an awesome week. We’ll see you next time. Thanks for watching.
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—SPANISH—
– Planificación de la incapacidad bien hecha.
Bueno amigos si vieron nuestro último video, me escucharon hablar de querer mostrar algunas de las historias de éxito de lo que estamos haciendo porque sé que siempre parece como si estuviéramos hablando de desastres o de lo que salió mal o de lo que podrÃa salir mal con un plan patrimonial, asà que querÃa dedicar unos videos a hablar de algunas historias de éxito, y una de ellas que surgió recientemente, y de la que ustedes me han escuchado hablar una y otra vez, eso es lo verdaderamente importante ahora porque no hay impuesto sobre el patrimonio para la mayorÃa lo importante ahora es la planificación de la incapacidad.
Lo que quieres que suceda ahora, si algo fuera a sucederte, qué quieres que sea para que te cuiden durante tu vida. Entonces unos 15 años, si dios hace 15 años, hice un plan patrimonial para una pareja muy agradable. Hoy, desafortunadamente, lo que sucedió recientemente es que uno de ellos ha desarrollado el mal de Alzheimer y ya no pueden cuidarse a sà mismos. Sin embargo, al haber creado un plan patrimonial para ellos y haber proporcionado instrucciones especÃficas y la esposa habÃa proporcionado instrucciones claras sobre lo que ella querÃa que sucediera, a donde ella querÃa ir, habÃamos ideado un plan hace 15 años y habÃa sido actualizado tal como quiero que ustedes actualicen sus planes, y asà lo hemos actualizado a lo largo de los años y ahora el esposo necesitaba ese plan para trabajar, y porque habÃamos creado un plan patrimonial centrado en un fideicomiso vital revocable, todos sus activos, ellos hicieron un muy buen trabajo, los dos juntos en los últimos años han hecho un trabajo fantástico de recibir actualizaciones, y segundo, financiando su confianza, asegurándose de que todos sus activos estén en nombre del fideicomiso, en nombre del fideicomiso. Entonces, la parte desafortunada de la historia es que la esposa tiene mal de Alzheimer ahora.
La buena parte de la historia es que al haber creado juntos un plan patrimonial centrado en un fideicomiso vital revocable, el marido ha podido sin problemas continuar cuidando todos sus activos, su casa, y cuidar a su esposa exactamente cómo querÃa que la cuidaran de acuerdo a sus instrucciones. Ella sigue viviendo y su esposo puede cumplir sus deseos y cuidarla de la forma en que querÃa que la cuidaran.
Amigos, esa es solo una de las formas por qué un plan patrimonial centrado en un fideicomiso revocable es tan importante. Espero que no le pase a nadie, pero desafortunadamente, existe la posibilidad que en algún momento nos tornemos incapacitados Con todo lo que está sucediendo en este momento, si tienes un plan en vigencia en este momento y le dices a los miembros de la familia, tanto oralmente como por escrito, y tienes un plan en marcha de lo que exactamente quieres que suceda, estás haciendo dos cosas. La primera es que estás quitándole esa carga de los hombros a tu familia de tener que tomar decisiones sobre lo que querrÃa mamá. Mamá querrÃa ir aquÃ? Mamá querrÃa que esto suceda? Lo segundo es que porque se te ocurrió un plan, les has dado instrucciones e directrices sobre exactamente lo que quieres que suceda. Esperamos que no nos suceda, pero qué bueno es saber que has aliviado a tu familia de esa carga de tener que hacer esos y segundo, te van a cuidar de la forma en que querÃas que te cuidaran. Entonces sé que es triste llegar a ese punto, pero lo considero una historia de éxito que esta señora debido a su firme planificación y visita regular para recibir actualizaciones, haya dejado un buen plan establecido y su esposo y su familia puedan cuidarla como ella querÃa.
Eso es muy bonito. Entonces, si tienes valor hoy, puedes hacerme un gran favor y presiona el botón Me gusta a continuación, el que tiene forma de mano con los pulgares arriba? Y si esta es tu primera vez aquÃ, entonces por favor también aplasta ese botón de suscripción. No sabes cuanto ayuda a tener suscriptores en este canal. Que tengas un gran dÃa, y como siempre una semana maravillosa. Nos vemos la próxima vez. Gracias por vernos.