Your estate plan should grow and change as your life does. Sometimes that means small updates. Other times, it means an overhaul.
I’ve done two rounds of estate planning myself – each reflecting a different chapter in my life.
Round 1: The “Maxed-Out Me”
At the time, I was eight months pregnant, parenting a preschooler, caring for aging parents, juggling a demanding job, and settling into a new home after an out-of-state move. I was, in every sense, maxed out.
Still, I knew I needed an estate plan – something that would protect my family if the unexpected happened. My budget was tight, and my time even tighter. So I took a practical step: I hired a lawyer to draft a basic Will, name guardians for my kids, and prepare a health care directive and power of attorney.
I knew this plan wouldn’t avoid probate, but it was the right choice for that time of my life. It gave me peace of mind. And that was enough – for then.
Round 2: The “Mellowed-Out Me” (Sort Of)
Fast forward 15 years. Life had slowed down, at least a bit. My kids were teenagers, my caregiving responsibilities had eased, and things felt more stable.
This time around, I opted for a more comprehensive plan. I set up a Revocable Trust to avoid probate and provide a smoother transition for my family in the future. I had more assets, a larger budget for legal services, and – perhaps most importantly—more bandwidth to set the plan up right.
That included the essential step of funding my trust by making sure my financial accounts and assets were titled in the name of the trust, or payable to the trust at my death. It required phone calls, paperwork, and persistence – but the peace of mind was worth the effort.
I was happy with my Will back then, and I’m happy with my Trust now. Each reflected my needs at the time. Different tools, same goal: a plan that works for me and my family.
Now: Helping Others Plan for Every Season
Today, I’m on the other side of the table – as an attorney helping others craft estate plans that fit their lives.
At Schromen Law, we know estate planning isn’t a one-time event. Life evolves, and so should your estate plan. Whether you’re starting from scratch or updating an old plan, we’ll work with you to create something that reflects your values, protects your loved ones, and makes sense for your current reality.
If you’re feeling “maxed out,” you’re not alone – we’ve been there. We’ll guide you through the process and create a plan that grows with you.
The material contained herein is for informational purposes only, and is not intended to create or constitute an attorney-client relationship between Schromen Law, LLC and the reader. The information contained herein is not offered as legal advice and should not be construed as legal advice.