Over the Fourth of July weekend I had the opportunity to visit numerous friends and meet quite a few new people.  As with most conversations between new people, the common question “What do you do?” is often asked.  I enjoy learning what others do for a living and it gives me the opportunity to learn something unique about someone else.

On several occasions this weekend, I had the pleasure to speak to others about wills and estate planning.  One common reason that all the individuals I spoke to did not already have a will was that “I don’t have anything but debt.”  One gentleman jokingly stated that he would be dead and so it did not really matter at that point.  Perhaps he wasn’t joking, who knows.  I often hear “I don’t have anything” as the reason a person has not spoken to an attorney about estate planning or preparation of a will.  I suspect if a poll was conducted, it would probably be in the top 10 reasons, if not the top 5 reasons, individuals do not take the time to prepare a will and other necessary estate planning documents.

It also illustrates a fundamental misunderstanding at the importance of having a will and other estate planning documents prepared.  I suppose there is a good percentage of people who do not care what happens to their belongings or who is fighting over who gets what.  I also suspect there is a good percentage of people who DO care who will make decisions for them or their children if they were to become incapcitated.  Few people “plan” on becoming incapcitated but it happens often.  Estate planning documents generally will include a will, durable power of attorney, medical power of attorneys, mental health power of attorneys, declaration of guardianship, declaration of guardianship for a minor child, HIPPA releases, and other relevant documents.  These documents allow you to make your wishes known to others and allows others to make decisions for you on your behalf.  Questions like — Do you want to remain on life support indefinately?  Who do you want to take care of the son/daughter if you become incapcitated or if you die?