Writing our Will is Only A Small Piece of Your Estate Planning Puzzle

The majority of my “Wills clients” approach me with one single most common phrase: “I just need a simple Will.” And, from my experience (after drafting more than 1,000 estate planning documents) I can tell you that there is no such thing as a “simple Will”.

I’m still amazed how people do their financial planning by researching and planning extensively where and how to invest their money, but when they approach estate planning they’re looking for a simple “pill” that would give them peace of mind. Although, having your Will prepared could give you some peace of mind, a “simple Will” won’t provide you with a bullet-proof estate plan that would cover all the bases. In order to make sure that all your “ducks are in a row”, your estate plan should imply a comprehensive approach from a legal, accounting, investing, tax and family relationships points of view.

These being said, I can prepare your “simple Will” in few minutes, but I choose not to. When I prepare a comprehensive estate plan, I prefer to spend with my clients at least 30 minutes in order to understand their values, aspirations, family status, financial situation, etc. Also, my approach is to work with a team of professionals (e.g. accountants, tax advisors, financial planners, lawyers, etc.) in order to provide my clients with the best final product – a comprehensive estate plan, which would ultimately save them money, taxes, and their family relationships.

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