Estate Planning
Estate planning awareness, and why it matters.
Most Americans don’t have a current estate plan, a gap that quietly causes enormous cost and stress for families every year. A little awareness goes a long way.
Each year, National Estate Planning Awareness Week draws attention to a stubborn problem: a majority of Americans have no estate plan, or one that’s badly out of date. It’s not a wealth problem, it’s a procrastination problem, and it’s entirely fixable.
Why the gap is costly
Without a plan, families face probate, public, slow, and expensive, and, at incapacity, possibly a conservatorship. Out-of-date plans cause their own trouble: an ex-spouse still named as beneficiary, a deceased trustee, guardianship provisions for children who are now adults.
What awareness should prompt
The essentials to have in place
- A revocable living trust, properly funded, to avoid probate
- Durable powers of attorney for finances
- An advance healthcare directive with HIPAA authorization
- Current beneficiary designations on accounts and policies
- A review every few years and after major life events
Turn awareness into action
The hardest part of estate planning is starting. Whether you need a first plan or a long-overdue update, Tresp, Day & Associates makes the process straightforward, and, for families with significant wealth, builds protection into the plan. See our estate planning overview to begin.
Ready to protect what is yours?
Since 1992, Tresp, Day & Associates has structured asset protection for families and businesses nationwide. Request a consultation or call (858) 755-6672.
Related resources
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Common questions
Frequently asked
How often should I update my estate plan?
Review it every three to five years and after any major life event, marriage, divorce, a birth, a death, a significant change in assets, or a move to another state. Out-of-date plans cause real problems, like an ex-spouse still named as beneficiary or a named trustee who has passed away.
This article is general information, not legal or tax advice, and does not create an attorney-client relationship?
This article is general information, not legal or tax advice, and does not create an attorney-client relationship. Every situation is different and the law changes; consult a qualified attorney about your circumstances.
This website is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Every situation is different; please consult a qualified attorney about your specific circumstances.
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