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A study recently suggested that widespread use of existing preventative healthcare would save an estimated $3-7 billion per year and 2-3 million lives in the U.S. alone.
As we age, we become acutely aware of how important it is for our health to go for regular physicals, mammograms, annuals, etc. (This is your reminder to schedule that appointment!)
We know that the failure to do so can lead to surprises and expensive, emergency care.
Likewise, a properly maintained car will save you money not only on the price of gas, but also long term – as well as offer you peace of mind that you are not endangering yourself or others.
Every 6-months when my car reminds me it’s time for a service, I read the notification in my dad’s voice for heightened authority.
Hellooooo, adulting.
In all seriousness though, when it comes to preventative maintenance, we all know this to be true: Performing preventative maintenance along the way reduces the likelihood of costly emergencies.
This can be applied not only to your health, but also to your vehicle, real estate, equipment, and… you guessed it, estate planning!
Many of our clients come to us to plan with the understanding that we are planning for life as it is now. We are contemplating certain life events and planning for contingencies, but it is on their “to do” list to reach out if life changes in the future.
We have many clients who return to us after said life change occurs.
But not all clients do.
We do our best to communicate to our clients that we don’t plan in a vacuum and that estate plans need to be reviewed every 3-5 years for accuracy.
We call, text, leave voice messages, and otherwise mildly harass our clients every 3-years to do our part to encourage clients to meet and review their plans with us to ensure that their goals are still met, and families protected.
But life gets in the way and despite our efforts, it doesn’t always happen.
Unfortunately, we see the unfortunate effects of those that don’t keep their plan current. It normally looks like a client with a living revocable trust that opened a bank account or purchased real property along the way and didn’t properly capture it in their trust.
They’ll require costly probate now (usually the very thing we were trying to avoid).
Maybe it’s someone that divorced and failed to update their plan, or who named a person in various roles throughout their plan that has since passed.
The failure to keep an estate plan current can be catastrophic to client’s objectives in some cases.
An outdated plan is oftentimes just as useless as failing to plan at all.
I say this not to worry you, but to serve as a warning that estate planning isn’t a “one and done” type of task.
Estate planning requires maintenance.
Maintenance for an estate plan means reviewing your plan and assets periodically and making sure that everything is still properly organized.
According to the National Car Care Council, as much as 85% of cars on the road are in need of maintenance or repair.
I’d speculate that the number of people with outdated estate plans is even higher than that.
So how are we going to fix this problem?
As you likely know if you’re receiving this email, at My Pink Lawyer® we are all about being proactive.
We’ve recently launched our Client Care Program to ensure that our clients update their plans as often as is needed.
The Client Care Program guarantees an annual review of your estate plan and audit of your assets to make sure you stay current.
In addition to keeping your plan updated, it also includes:
We are waiving the $150 initial fee for new clients that opt into our Client Care Program within 6-months of their initial planning.
For only $39 a month, you can be certain that you are covered no matter what the future holds, and that your plan will remain current.
Additionally, in an effort to better protect our clients and get an estate plan in place quickly, we will guarantee that a plan will be ready to sign within 3-weeks of the initial consultation (for our Client Care Program participants only).
For those that have waited until the last minute to plan, we can even offer same day initial consultations and signings. (Ambitious, we know!)
If you are interested in our Client Care Program, please reach out to a team member for more information by replying to this email or calling our office at 850-439-1191.
After all, life happens.
At My Pink Lawyer®, we believe the best kind of plan is one that works.
Amanda (“Checking Items Off the Adulting To-Do List”) Lynch Elliott |
Preventive maintenance is the act of performing regularly scheduled maintenance activities to help prevent unexpected failures in the future.
