In a world that celebrates productivity and constant motion, estate planning often slips to the bottom of the to-do list. Between managing careers, raising families, caring for aging parents, and keeping up with daily responsibilities, many people feel they simply don’t have the time to think about wills, trusts, or long-term financial protections.
Yet, estate planning is one of the most important tasks you can undertake—and ironically, one that becomes more urgent the busier and more successful you become. Failing to plan doesn’t just create inconvenience for your loved ones; it can lead to financial loss, legal complications, and family conflict at the worst possible time.
Here’s why “I’ll get to it later” can be a costly phrase when it comes to your estate.
The Myth of “I Don’t Need an Estate Plan Yet”
Many people believe estate planning is something only older individuals or the ultra-wealthy need to worry about. In fact, anyone with assets, responsibilities, or dependents—homes, bank accounts, business interests, minor children, digital accounts, or even pets—has an estate and needs a plan.
Estate planning isn’t about how old you are. It’s about making sure your wishes are honored if something unexpected happens. As we all know, life is full of “unexpecteds.”
What Happens If You Don’t Have an Estate Plan?
1. State Law Will Decide Who Gets What… Not You
Without a will or trust, your estate will be distributed according to your state’s intestacy laws. These laws may:
- Exclude people you would have wanted to benefit
- Include people who you would have wanted to exclude (estranged parents or siblings, for example)
- Give more to some relatives than you intend
- Provide nothing for unmarried partners, stepchildren, friends, or charities
In other words, your assets may not go where you think—or hope—they will.
2. Your Family May Face Lengthy, Expensive Probate
Dying without an estate plan often means your estate must go through a court-supervised probate process. Probate can be:
- Slow (lasting months or even years)
- Public (your finances become part of the public record)
- Costly (legal fees, court costs, and administrative expenses reduce what your heirs receive)
Proper planning can streamline or even avoid probate entirely.
3. Minor Children Could End Up with Court-Appointed Guardians
If you have children under 18 and no Will that nominates a guardian, the court will choose one.
That guardian may not be the person you would have trusted—and family disputes over guardianship can become painful and expensive.
4. Loved Ones May Face Emotional Stress and Conflict
Ambiguity creates conflict. When your wishes are not clearly documented:
- Family members may disagree over decisions
- Long-term relationships may become strained
- Emotions can override reason, especially during grief
A well-designed estate plan reduces guesswork and provides clarity.
5. You Lose Control Over Medical and Financial Decisions If You Become Incapacitated
Estate planning isn’t just about what happens after death. Key documents like powers of attorney and health care directives ensure:
- Someone you trust can make financial decisions if you can’t
- Your medical wishes are honored
- Your family can avoid court intervention, known as guardianship or conservatorship
proceedings
Without these documents, your loved ones may have to fight for the authority to help you.
6. Your Business May Be Thrown into Chaos
Entrepreneurs and business owners who lack succession plans risk:
- Disrupting operations
- Forcing a sale or dissolution
- Creating disputes among partners or heirs
A well-crafted plan protects both your business and the people who depend on it.
Why Being “Too Busy” Is a Reason to Start—Not Delay
The busier your life is, the more you have at stake.
- The more assets you acquire, the more complex your estate becomes.
- The more people who depend on you, the more protection they need.
- The more responsibilities you juggle, the less room there is for chaos if something goes wrong.
Estate planning is not a massive, time-consuming ordeal. For many people, the process can be started with a single conversation and completed with just a few essential documents.
The peace of mind that comes from knowing your affairs are in order far outweighs the small investment of time required.
Taking the First Step
If estate planning feels overwhelming, you’re not alone. Start small:
- List your assets (accounts, property, insurance, businesses, digital assets).
- Decide who you trust to make decisions if you cannot.
- Think about who you want to inherit and how.
- Meet with an estate planning professional who can guide you through the rest.
The most important step is the very first step that you take.
Final Thoughts
Life moves fast, and it’s easy to believe you’ll handle estate planning later. But later often becomes never—and the consequences fall on the people you care about most.
Creating an estate plan is not just a financial task. It is an act of love, responsibility, and foresight.
By taking a small amount of time now, you give your loved ones’ clarity, protection, and peace during life’s most difficult moments.
©Surprenant & Beneski, P.C. 35 Arnold Street, New Bedford, MA 02740, 336 South Street, Hyannis MA 02601 and 45 Bristol Drive, Easton MA 02375. This article is for illustration purposes only. This article does not constitute legal advice. There is no attorney/client relationship created with Surprenant & Beneski, P.C. by this article. DO NOT make decisions based upon information in this article. Every family is unique and legal advice can only be given after an individual consultation with an elder law attorney. Any decisions made without proper legal advice may cause significant legal and financial problems.
