Page 9 - OctoberMag2024.10.8.2024

ESTATE PLANNING

Atty. John J. Urban

Lessons in

the Law

Procrastination

here appears to be many definitions for
procrastination. The common definition is
the act or habit of putting off or delaying, If you want to be in control of your
especially something requiring immediate
T attention. afterlife, in the legal sense, you
My point here is that “procrastination” is
the biggest estate planning mistake. must act while you can. You can be
I can’t tell you how many people tell me they have
to make a Will, update their deeds and advance direc- in control and name the Executor or
tives, but that they will do it tomorrow or next week. the people you want to be in control.
In other articles, I have stated that less than 40% of
us have our legal affairs in order and about 50% of
those people need to update their documents. Many
are out of date and have the wrong people designated as
Executors or Agents. I had a situation where the husband was mentally in-
Many articles have been written by me and others about competent and had to go to a nursing home. The man did
getting one’s affairs in order. If you wait too long to create not have a Power-of-Attorney, did not have a Health Care
your documents, you may be physically and/or mentally Power-of-Attorney nor a Living Will. The wife applies for
unable to do so. I have met with many clients in the hos- guardianship and she and none of her children qualified
pital or a nursing home who are unable to discuss their under the state rules to be guardian. The Court appoint-
affairs and unable to create and sign their documents. ed a non-family member to be in charge as guardian. The
If you want to be in control of your afterlife, in the legal family lost control over everything. If the proper docu-
sense, you must act while you can. You can be in control and ments were in place, none of this would have happened.
name the Executor or the people you want to be in control. Don’t procrastinate—make a decision today to get your
If you are unable to put your affairs in order, your state legal affairs in order! I always recommend that you seek
has a plan in effect and you will be subject to your state out an attorney that is qualified in the estate planning area.
laws. You may not like the outcome and you will not have Questions, comments or ideas about future articles con-
any control on who is in charge. tact me at jurban.gcu@GCUusa.com.

GCU MAGAZINE OCTOBER 2024 7