You Own More Than You Think - Estate Planning for Non-Millionaires

GoodTrust highlights the importance of estate planning for everyone—not just the wealthy.

• Many believe that Estate Planning has to do with finances and is just for the wealthy, but there is much more to it - and it’s leaving families vulnerable.

• It’s time to appreciate all the benefits of what an Estate Plan can do for you, no matter how much is in your bank account.

• Take advantage of National Estate Planning Month to protect your family, assets and legacy.

Think estate planning is only for the wealthy? Think again. 

Many people mistakenly believe they don’t need a will or a trust because they aren’t millionaires. This mindset leaves countless families unprotected. GoodTrust, a pioneer in smart estate planning, is using National Estate Planning Month to remind us all: you have more to protect than you realize.

Why Estate Planning Matters

Picture a typical Tuesday evening: You're on the couch, endlessly scrolling through TV channels, your kids are upstairs with their tablets and your partner’s doing dishes in the kitchen. Just another ordinary night, right? But what if tomorrow the unthinkable happened? Who would care for your children? What would happen to your family recipe book and who would adopt your adorable, yet very high-energy, pup?

If you're drawing a blank, you're not alone. And that's exactly why estate planning matters for everyone, regardless of wealth.

Essential Elements of Estate Planning

1. Guardianship: Who's Raising Your Mini-Mes?

Remember that time you left the kids with your in-laws for a weekend and came back to find them hopped up on sugar and sporting questionable haircuts? Now imagine that scenario... permanently.

By naming a guardian in your estate plan, you're not leaving your kids' future to chance. You're ensuring they'll be raised by someone who shares your values. Someone who knows that bedtime is non-negotiable and vegetables aren't the enemy.

2. Medical Decisions: Because "Pull the Plug" Isn't a Great Conversation Starter

None of us want to think about being incapacitated. But if you end up in a medical emergency, do you want your family guessing at what you'd want? By including advance directives in your estate plan, you're saving your loved ones from making difficult decisions during an already stressful time.

3. Asset Distribution: Avoid the Family Feud

We've all got that one relative who'd fight tooth and nail over grandma's chipped teapot. Now imagine that drama multiplied across everything you own. A clear estate plan is not just about giving stuff away – it's about preserving relationships.

4. Digital Legacy: Because Your Online Life Matters Too

Remember MySpace? (If you don't, ask your older sibling.) Well, your digital footprint has come a long way since then. Your Netflix profile, your online billpay, that cryptocurrency you bought on a whim – it's all part of your estate, too.

The "But I'm Not Rich" Myth

Here's the thing: you're wealthier than you think. Along with all the pieces mentioned above, there’s also those family recipes scribbled on index cards, photos stored on your phone, and grandma’s chipped teapot. While they might not have much monetary value, they're priceless to someone.

Estate planning isn't about how much you own. It's about making sure what you do have, goes where you want it to go, your children are protected and that your wishes are respected. 

Take Action Now

So next time you find yourself scrolling mindlessly for something to watch on TV, scroll over to www.mygoodtrust.com and start your estate planning journey instead. After all, everyone's got an estate—even if it's not the kind that comes with a butler.