Earlier this year, financier Jeffrey Epstein was found dead inside his jail cell in New York City. Interestingly, two days prior to his death, he wrote an estate plan and will. As estate planning attorneys, we’ve been asked if putting an estate plan together right before death is a common thing that happens.
The answer to this question is no. A complete estate plan just 48 hours prior to one’s death is really uncommon. An estate plan is more commonly put together once a terminal diagnosis has been confirmed and relayed to the individual with more advanced notice. That doesn’t mean people put together an estate plan in just minutes though. It can take weeks and months to put together a fully comprehensive estate plan.
Because of this, we strongly advise individuals to plan early, well before impending death. The earlier you put together your estate plan, the better prepared you and others will be. Planning earlier will save you time. Rather than trying to pull everything together at the last minute, you’d have an estate plan that’s ready, and should you acquire a new asset, you could simply add it into your estate plan. Perhaps equally important is that you plan your estate when you’re free of pressure and stresses. It’s hard to do anything when you are anxious. This applies to estate planning as well.
While individuals can write out their own will, it’s often made better with help from a probate attorney because there is so much more to a comprehensive estate plan than just a will. The Probate Pro’s probate and estate planning attorneys work closely with clients to create detailed and comprehensive estate plans. If you’re in need of an estate plan, give The Probate Pro a call today at (877) YOUR-FIRM. Our legal team is ready and willing to help you put together an estate plan.