Why Everyone Needs an Estate Plan (Not Just the Wealthy)
“A goal without a plan is just a wish."
- Antoine de Saint-Exupéry
Introduction
When you hear the words “estate planning,” what comes to mind? Be honest. Do you picture wealthy families in fancy homes with complicated portfolios? Or maybe you think of a dry stack of legal documents that no one but an attorney can understand.
Here is the reality: if you own anything at all, you already have an estate. A checking account, a car, family heirlooms, your home, even your dog, it all counts! The only question is whether you will decide what happens to it, or let the courts decide for you.
Estate planning is not about how much money you have. It is about responsibility. It is about making life easier for the people you love most. And here is the kicker: by not planning, you are actually making a plan. You are planning for the courts, strangers, and chance to make the decisions for you.
So, let us dig into three of the biggest myths about estate planning and uncover why everyone, not just the wealthy, needs a plan.
Let's chat about some myths that many people believe about estate planning. Buckle up!
Myth 1: “I Do Not Have Enough Assets”
You do not need a mansion or a yacht to make estate planning worthwhile. If you have possessions that matter to you or accounts in your name, you need a plan. Without one, your loved ones may end up in court sorting through delays, costs, and frustration that could have been avoided.
Meet Sarah: Sarah was a single mom who rented her home and thought she had nothing worth planning for. When she passed away unexpectedly, her children had to wait months for the court to appoint someone to access her modest savings account and her car. In the meantime, bills went unpaid and stress piled up on top of their grief. A simple estate plan would have spared them that burden.
Do you own anything that you would want to see passed to someone specific, whether money, a keepsake, or even your pet? If so, you already have an estate worth planning.
Myth 2: “My Family Will Figure It Out”
Families mean well, but emotions run high when a loved one passes away. Without clear instructions, even small decisions can create big disagreements. Those disagreements can leave scars that last for years.
Dad's Cabin: After their father passed away, three siblings spent months fighting over who would keep the family cabin. One wanted to sell it, one wanted to rent it, and one wanted to keep it for gatherings. Their father never left written instructions, and the battle broke apart their relationship. A simple estate plan could have preserved both the cabin and the family bond.
If something happened to you tomorrow, would your family know what you wanted? Or would they be left to guess, and maybe argue, about your intentions?
Myth 3: “I Am Too Young to Worry About That”
Accidents and illness do not wait for retirement. Estate planning is not just for people in their sixties or seventies. It is for anyone who wants a say in what happens if they cannot speak for themselves, or if the unexpected occurs.
Meet Jake: Jake was only 32 when a car accident left him in the hospital unable to make decisions. His parents and his partner disagreed about his care, and because Jake had no documents in place, doctors were left caught between opposing voices. A health care directive and power of attorney would have given clear guidance and prevented heartache.
If you were suddenly unable to make decisions, who would you want to speak for you? Does that person know your wishes today?
The Real Benefits of Estate Planning
Estate planning is not just about avoiding problems. It is about creating positive outcomes for the people you love. Here are four benefits worth thinking about, with real-life implications.
Protect Your Loved Ones
When you pass without a plan, the courts step in. That means delays, costs, and stress for your family. With a plan, they can grieve without also having to fight through a maze of paperwork.Mini Story: A client once told me that having her parents’ estate plan in place was like a final gift. Instead of scrambling with court filings, she could focus on celebrating her parents’ lives.
Reflection: What kind of “final gift” would you want to leave your family, confusion or clarity?
Save Time and Money
Probate can eat up months, even years, and thousands of dollars. Every dollar spent on legal fees is a dollar not going to your loved ones. Estate planning keeps more of your hard-earned assets in the family.Mini Story: Tom and Lisa set up a living trust for their modest estate. When Tom passed, Lisa was able to access funds immediately instead of waiting months in probate. The difference meant she could pay bills on time and keep life steady during a hard season.
Reflection: If your family needed immediate access to funds, would they have it?
Make Your Wishes Known
From healthcare choices to guardianship of children, estate planning ensures your voice is heard. Without it, others are forced to guess or fight about what you “would have wanted.”Mini Story: A family I knew avoided a painful conflict because their mother had written her healthcare wishes clearly. The doctors and siblings all had clarity, and it allowed them to focus on her comfort rather than on arguments.
Reflection: Do the people closest to you actually know your wishes, or are you assuming they do?
Peace of Mind
There is nothing quite like the relief of knowing everything is in order. It is one of the greatest gifts you can give yourself and your family.Mini Story: A young couple told me after finishing their plan that they finally slept better. They knew their kids would be cared for if the unthinkable happened.
Reflection: What would it feel like to rest easier knowing your family is protected?
The Bottom Line
Bottom line: Estate planning is not about being rich. It is about being responsible. Every adult, no matter their age or net worth, benefits from having a plan.
At Fortis Planning, we believe estate planning should be simple, personal, and accessible. We guide you through the details, help you make confident decisions, and create a plan that reflects your values.
If you are ready to protect your future, let us start the conversation today. Together we can turn “I will get around to it” into peace of mind for you and your loved ones. Head on over to our Contact Us page to schedule time.
Want to learn more before you decide? Explore our FREE Resources Page or check out answers to common questions in our FAQs.
