You can't use what you've not got.

A guide to why we should engage in estate planning, and the ideal time to do so.

"put some washing in, clean the bathroom, go to Asda, die, pick the kids up from school, make tea, put the kids to bed... oh wait, I'll have to get someone else to pick the kids up from school, make tea and put the kids to bed..."

Life is peppered with little phrases of wisdom about the future, such as "hope for the best but plan for the worst"; "forewarned is forearmed"; and the grammatically correct version of this article's title, "You can't use that which you do not possess".

All true, but how does this relate to estate planning? Well, it's simple really. No-one has ever got up in the morning and written their "To-do list" like this: "put some washing in, clean the bathroom, go to Asda, die, pick the kids up from school, make tea, put the kids to bed... oh wait, I'll have to get someone else to pick the kids up from school, make tea and put the kids to bed..." we simply don't know when it - death - is going to happen. Let's not forget what we're dealing with here, death is pretty... final. You know, there's not many people who have danced with Mr Reaper and returned from the ball still in one piece!

What we do have is a WOO!! And for those who don't know what a "WOO!!" is, it's a Window of Opportunity. Frankly though, it's the worst window in the world, because it fails at that most basic window function in that we can't see through it. We simply do not know when the Window of Opportunity will close for us or our loved ones. And that, is the way to view estate planning.

Estate planning is for those we leave behind.

"It doesn't bother me, I'll be dead ha ha ha ha...". Ha. Ha. Ha. Indeed.

Pause for a second though, and think: if it really, truly, doesn't bother you in any way, shape, or form; would it bother your wife/husband/partner/other "significant other" if you didn't come home from work tonight? Would your children be bothered by that? How would they cope financially, who would pay the mortgage/rent/bills? How would they pay for your funeral? What if everything was left to your wife/husband/partner/other "significant other" and they went on to marry, or re-marry, would you potentially want an inheritance meant for your children being lost to some new spouse?

Estate planning allows you to limit the impact of your death, whether sudden or otherwise, on your loved ones. It can provide security for your spouse/partner and your children; it can protect your assets; it can give directions as to what you'd want at your funeral; it can be used to appoint your chosen guardians to raise your children in the event that you're not around - it can do lots of things, but only if you've got it. You can't use what you haven't got. The time to do your estate planning is now! The time to think about protecting your family is now!

Another proverb for you "Only put off until tomorrow that which you are willing to die having been left undone." - Pablo Picasso.

For more information about how estate planning can benefit you and your loved ones, call 01925 321231, or email enquiries@elliottgeorge-ep.com, and one of our friendly team will be happy to help you. Our Wills start from just £95 for a single, or £195 for a couple.