The TreeceCo Report
Originally posted on August 1, 2014
I've been reading Matt Kibbe's latest book, "Don't hurt people and don't take their stuff." In the beginning chapters the author defines two types of political mindsets...
Kibbe says, "More and more, the debate about how we live our lives and what the government's legitimate role is in overruling our personal decisions has become increasingly polarized and even hostile."
In Estate Planning the government has set up a system to legitimize the distribution of your things when you pass away. I've never liked the idea of a third party overseeing my affairs or the (re)distribution of my things, but many people die with no plan. Their estate may then enter the government distribution process called probate.
If you've read our newsletters for long I'm sure you realize we are "liberty minded" or ideologically "free" oriented folks. So the idea of the government planning our destiny is an illegitimate ideal and if it can be avoided, then it's our responsibility to plan accordingly. Hence the need for a free people to have a Living Revocable Trust.
Adam Smith was a political philosopher who lived in the 1700s. In his book "Moral Sentiments" he writes, "The most sacred laws of justice, therefore, those whose violation seems to call loudest for vengeance and punishment, are the laws which guard the life and person of our neighbor; the next are those which guard his property and possessions; and last of all come those which guard what are called his personal rights, or what is due to him from the promise of others."
I see a correlation with Estate Planning. I do not believe an arbitrary court system knows best where my possessions and property should go when I pass away, and if someone were to contend that they had a right to my things the court would determine who gets what. Having a Living Revocable Trust will eliminate this and allow for us to be a freer people.
Remember AARP comes out and says that probate will cost 4% to 10% of your estate value on average. You can plan to avoid this and allow your heirs to avoid the agony of probate.
Call our office today to schedule a free no obligation estate planning consultation.
While most attorneys or estate planners take a fee and rush you through a quick estate planning process, we do not do that.A licensed attorney who is accountable deals with the legal aspects and you have the opportunity to completely understand what you are doing. This ensures that your wishes are fulfilled and you actually know what your estate plan says.
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