Estate planning involves having certain documents in place to protect your loved ones and you in the event of illness, injury, incapacity or death. These may include a Will, a Trust, a Durable Power of Attorney and a Living Will, Establishing an estate plan is not terribly difficult or time consuming but the benefits can be tremendous! A good estate plan provides both protection and peace of mind. So why do people not set up their estate plan? Here are some possible reasons:
A well-recognized Latin phrase, "In Omnia Paratus" is translated as "Ready for anything." Legally speaking, when it comes to life's challenges, many adults are not ready for anything. In particular, they are not ready in the event of disability, incapacity, or death. They simply are not prepared.
The motto of the United States Coast Guard is "Semper Paratus" which is Latin for "always ready" or "always prepared." When it comes to being prepared for life's challenges, including illness, incapacity, and death, it is wise to be "always prepared." Unfortunately, in law practice many times we see that people are "Non Paratus" or "not prepared."