Do I Need an Estate Plan? Yes—Even If You're Not Wealthy

Estate planning is an act of stewardship and leadership

Most people hear "estate plan" and assume it's for wealthy families or retirees.

It's not.

Estate planning is one of the most loving things you can do for the people who care about you. It gives clarity when they need it most. It reduces stress. It spares your spouse, your kids, your parents from agonizing over questions you could have answered ahead of time.

Yes, it's hard to think about. But it's also an act of great kindness.

Estate planning is for anyone who has people—not just money

You need an estate plan if you have a spouse. Kids. Aging parents. A business. A home.

Or even just one person who would be responsible for you if something happened.

In other words: if you have relationships, you probably need a plan.

This isn't about wealth. It's about how much confusion or conflict you want to avoid for the people who matter most.

The core pieces (simple, not overwhelming)

A good estate plan usually includes a few key documents. None of this requires being a millionaire. It's just clean, intentional preparation.

A will. Who gets what, who cares for your kids, who handles your affairs.

Financial power of attorney. Someone who can make financial decisions for you if you're unable.

Medical power of attorney. Someone you trust to make medical decisions on your behalf.

Advance directive or living will. Your wishes around life support, end-of-life care, medical choices.

Beneficiary designations (these are easy to forget). Retirement accounts, life insurance, bank accounts—they pass outside the will. If they're outdated, they override everything else.

Optional: A trust. Useful if you have minor kids, real estate in multiple states, business interests, or want to control how assets are used over time.

Why it matters: Avoiding agony for the people you love

Without a plan, your family is left to make impossible decisions at the worst possible moment.

"What would they have wanted?"

"Are we doing the right thing?"

"Who's supposed to take care of the kids?"

"What do we do with the house?"

"Who handles the business?"

"What about their medical preferences?"

These questions create friction, stress, confusion—even in loving families.

A simple estate plan answers them ahead of time, so your people aren't forced to guess or argue about who's responsible.

Estate planning is an act of compassion.

Parents and business owners: you especially need a plan

If you have kids, your will does something nothing else can do: it formally names a guardian.

If you own a business, the plan clarifies who steps in, what happens to ownership, whether the business continues or gets sold or transitions.

Without this, your loved ones face a legal maze with massive tax consequences—while also dealing with grief.

I've seen too many business owners assume they'll just sell one day and retire into the sunset. Maybe that happens. But even if it does, your spouse and kids will sleep better if you put your wishes down in writing.

You only have to do this once (and update occasionally)

An estate plan isn't a weekly chore.

You build it once, then update it when life changes: marriage, kids, buying a home, divorce, inheritance, business ownership, significant health events.

Most people need a refresh every five to seven years. Not constant attention.

The peace it brings? Worth every minute.

Pause and take a breath

If this feels heavy, that's normal.

But just reading this is already a step many people never take.

You don't have to get everything perfect. Start with the basics. Focus on clarity, not complexity.

And your future self—and your family—will be deeply grateful you took the time.

If you're not sure where to start

If you're wondering what pieces you actually need or how to begin, I'd love to help.

This is exactly why I started my financial planning firm—to walk with families and business owners through decisions that can feel overwhelming at first.

You don't have to figure this out alone.

Email or call me anytime. I'm a real person, and I won't pressure you into buying products you don't need. We'll simply talk through your situation and help you build a plan that serves the people you love.

‍