“What If” the Most Important Estate Planning Question to Ask

The single most important question to guide your estate plan is “what if.” What if you die? What if you fall ill or are incapacitated. What if your net worth declines and you don’t have sufficient assets to make the bequests you included under your will (or revocable trust)? You can draft to address that. What if an heir has or develops a drug, alcohol or other addiction issue? You might use a trust protector in your trusts to address unanticipated changes. Asking “What I”” will lead you to better planning. What if market change how will your retirement plan stay on track? What type of insurance should you have to address uncertainty or “what if” questions. Once you reach a point where the answer to the “What If” questions reach a point where you are not concerned? Then you have perhaps gone far enough in considering the uncertainties or issues you wish to address in your planning.