Introduction: Estate Planning Is Not Just for the Wealthy

Many Americans believe estate planning is only necessary for the wealthy or elderly. This common misconception leads to a startling statistic: approximately 67% of American adults do not have a will or any estate planning documents in place. This oversight can lead to significant consequences for families of all income levels and asset portfolios.

Estate planning is fundamentally about protection – protecting your wishes, your loved ones, and the legacy you’ve worked hard to build. Regardless of your net worth, having a proper estate plan ensures that your assets are distributed according to your wishes, minimizes potential conflicts among family members, and provides clear guidance for healthcare decisions if you become incapacitated.

The consequences of failing to plan can be severe. Without a will, your state’s intestacy laws determine how your assets are distributed – often in ways that may not align with your wishes. Intestacy laws divide property the way the state thinks you would like your property divided, while wills allow for you to decide. Additionally, the probate process can become lengthy and costly, potentially reducing the inheritance your loved ones receive.

At InPerSuit, we’ve seen firsthand how proper estate planning brings peace of mind to families across all economic backgrounds. Our platform simplifies the process of finding the right estate planning attorney – one who understands your specific situation and can tailor a plan to your unique needs.

Core Components of Estate Planning

Will Preparation: The Foundation

A will serves as the cornerstone of any estate plan. This legal document specifies how you want your assets distributed after your death and can name guardians for minor children.In legal terms, assets are any types of property or resources that a person can use to meet obligations or liabilities. This can include cash, real estate, stocks, bonds, personal property, and other valuables that have economic value as well as sentimental value. Creating a valid will requires adherence to specific state laws regarding witnesses, notarization, and execution.

Without a will, you die “intestate,” meaning state laws determine who inherits your assets – potentially leading to outcomes you never intended. A properly executed will allows you to:

• Designate beneficiaries for specific assets
• Name an executor to manage your estate
• Appoint guardians for minor children
• Specify funeral arrangements
• Create trusts for beneficiaries
• Make charitable bequests

Power of Attorney and Healthcare Directives

Estate planning extends beyond asset distribution to include planning for potential incapacity. Two critical documents address this concern:

Durable Power of Attorney (DPOA): This document authorizes someone you trust to handle financial and legal matters if you become unable to do so. Without a DPOA, your family may need to pursue a costly and time-consuming guardianship or conservatorship through court.

Healthcare Directives: These documents (often including a living will and healthcare power of attorney) outline your medical treatment preferences and designate someone to make healthcare decisions on your behalf if you cannot communicate. These directives ensure your wishes are respected and relieve loved ones from making difficult decisions without guidance.

While these documents are very similar, it is important to have both to ensure that your wishes are upheld should you be unable to communicate them. Clear instructions ensure your wishes are upheld and makes it easier for your loved ones.

Trust Considerations

Trusts offer additional control and privacy that wills cannot provide. A trust is a legal arrangement where property is held by one party (trustee) for the benefit of another (beneficiary). Trusts can:

• Avoid probate for assets held in the trust
• Provide ongoing management for assets
• Create conditions for asset distribution
• Protect assets from certain creditors
• Provide for special needs beneficiaries without disrupting government benefits
• Reduce estate taxes for larger estates

Common types include revocable living trusts (which can be changed during your lifetime) and irrevocable trusts (which generally cannot be changed but may offer additional tax benefits and asset protection).

Beneficiary Designations

Many valuable assets—including life insurance policies, retirement accounts, and payable-on-death bank accounts—pass to heirs through beneficiary designations, completely outside your will. These designations supersede instructions in your will, making it essential to keep them updated and aligned with your overall estate plan.

The InPerSuit Difference

Finding the right estate planning attorney can be overwhelming. At InPerSuit, our platform connects you with attorneys who specialize in your specific estate planning needs. Our legal professionals personally evaluate each attorney’s experience with various estate planning tools and strategies before making a match.

“What sets our platform apart is our understanding that estate planning isn’t one-size-fits-all,” says Shane Lucado, InPerSuit’s founder. “We match clients with attorneys who have specific experience in their unique situation, whether that’s planning for a blended family, a business owner, or someone with international assets.”

Consequences of Poor Planning

The Probate Process: Delays and Expenses

Probate is the court-supervised process of validating a will, paying debts, and distributing assets. Without proper planning, this process can become lengthy (often 6-18 months), expensive (with court costs, attorney fees, and executor fees potentially consuming 3-7% of the estate’s value), and public (as probate records are accessible to anyone).

Strategic estate planning can minimize or avoid probate through tools like:

• Revocable living trusts
• Joint ownership with rights of survivorship
• Payable-on-death designations
• Transfer-on-death registrations

Family Conflicts

Perhaps the most painful consequence of inadequate estate planning is the potential for family discord. Unclear instructions or perceived inequities can fracture family relationships during an already emotional time.

“I’ve seen siblings who haven’t spoken in years because of disputes over their parents’ estates,” shares Maria Hernandez, an estate planning attorney in InPerSuit’s network. “Often, these conflicts could have been avoided with clear documentation and communication facilitated by proper planning.”

Tax Implications

While federal estate taxes currently affect only estates exceeding $13.61 million (as of 2025), many states impose inheritance or estate taxes at much lower thresholds. Additionally, beneficiaries may face income tax consequences on certain inherited assets like IRAs. Proper estate planning can implement strategies to minimize these tax burdens, potentially preserving more of your legacy for your loved ones.

Asset Distribution Complications

Without proper planning, assets may not reach intended beneficiaries or may do so in ways that create problems. For example, leaving assets outright to beneficiaries with creditor problems, addiction issues, or financial inexperience can lead to rapid dissipation of the inheritance.

Client Experience: Sarah K., a recent InPerSuit client, shared her experience: “After my father passed away with minimal estate planning, we discovered assets we didn’t know existed and debts that depleted much of his estate. Through InPerSuit, I connected with an attorney who helped create a comprehensive plan for my own family. The peace of mind is immeasurable, knowing my children won’t face the same confusion and stress.”

Special Considerations

Planning for Minor Children

For parents of minor children, estate planning takes on added urgency. Without proper documentation, courts decide who will raise your children if both parents die – potentially selecting someone other than who you would have chosen.

A comprehensive plan for parents should include:

• Guardian nominations (both short-term and long-term)
• Trusts to manage assets for children until appropriate ages
• Instructions for children’s upbringing and education
• Life insurance considerations to provide adequate resources

Blended Family Planning

Blended families create unique planning challenges, as balancing the needs of a current spouse with children from previous relationships requires careful consideration. Without proper planning, state intestacy laws may not reflect your wishes, potentially disinheriting stepchildren or creating unintended inequities. Most states do not consider stepchildren intestate and only allow for biological or adopted children to inherit.

Strategies for blended families often include:

• Qualified Terminable Interest Property (QTIP) trusts
• Life insurance to create separate inheritances
• Prenuptial agreements that address estate planning
• Clear communication about intentions

Business Ownership Planning

Business owners face additional complexity in estate planning. Without proper succession planning, a business may fail after the owner’s death, destroying a lifetime of work and potentially leaving family members without anticipated income.

Essential planning elements include:

• Business succession plans
• Buy-sell agreements
• Key person insurance
• Operating agreement provisions
• Who will receive the rights to certain aspects of the business like a patent or recipe. 

Digital Assets and Online Accounts

In our increasingly digital world, estate planning must address digital assets and online accounts. Without proper documentation and password access, valuable digital assets may be lost forever, and sentimental items like photos and videos may become inaccessible to heirs.

A complete estate plan now includes:

• Inventory of digital assets and accounts
• Password management systems
• Instructions for digital legacy handling
• Digital estate planning provisions

InPerSuit’s Verification Process

At InPerSuit, we recognize the importance of specialized knowledge in these complex areas. Our platform verifies attorneys’ expertise in specific aspects of estate planning before making matches.

“When we evaluate estate planning attorneys for our network, we look at their specialized experience in areas like special needs planning, business succession, or cross-border issues,” explains James Wilson, InPerSuit’s legal verification specialist. “We review past cases, client feedback, and continuing education to ensure they have the expertise to handle complex situations.”

When to Update Your Estate Plan

Estate planning isn’t a one-time event but an ongoing process that should be revisited periodically. While there are some things that can be done to extend the life of the document, many people create documents and then file them away, forgetting that life changes often necessitate updates to the plan.

Life Events That Trigger Reviews

Consider reviewing your estate plan after:

• Marriage or divorce
• Birth or adoption of children
• Death of a beneficiary or executor
• Significant changes in assets or liabilities
• Relocation to a different state
• Purchase or sale of a business
• Changes in tax laws
• Birth or adoption of grandchildren

Recommended Review Timeline

Even without major life changes, estate planning professionals recommend reviewing your documents every 3-5 years. This ensures your plan remains aligned with current laws and family circumstances.

Changes in Tax Laws

Tax laws change frequently, potentially affecting estate planning strategies. What worked well under previous tax regimes may be inefficient or unnecessary under current laws. Changing tax laws is another reason it is essential to keep an updated will when possible. 

The Value of Ongoing Attorney Relationships

Having an established relationship with an estate planning attorney facilitates regular reviews and updates. Through InPerSuit, clients maintain connections with their matched attorneys, making it easier to adapt plans as circumstances change.

How to Get Started

Self-Assessment Checklist

Before meeting with an attorney, consider these questions:

• What are your assets? (Making a list of your assets prior to meeting with an attorney can help speed up the process.)
• Who would you want to receive your assets, and in what proportions?
• Who would you trust to manage your financial affairs if you couldn’t?
• Who would you want to make medical decisions for you if incapacitated?
• Who would you want to care for your minor children?
• Do you have special concerns about any beneficiaries (e.g., spendthrift tendencies, special needs)?
• Do you own a business? If so, what should happen to it after your death?
• Do you have digital assets that would be difficult for others to access?

InPerSuit’s Attorney Selection Criteria

When matching clients with estate planning attorneys, InPerSuit evaluates:

• Years of experience in estate planning
• Areas of specialization within estate planning
• Client satisfaction history
• Communication style and responsiveness
• Fee structures and transparency
• Professional credentials and continuing education

“We don’t just look at an attorney’s website or credentials,” explains Lucado. “Our legal professionals conduct thorough evaluations of each attorney’s practice, including reviewing sample work products and speaking with past clients. This helps us understand not just their technical skill but also how well they explain complex concepts to clients.”

Transparent Fee Comparisons

Estate planning services can vary widely in cost. InPerSuit provides transparent fee information for matched attorneys, helping clients understand what to expect and how fees compare to similar practitioners in their area.

Estate planning fees typically follow one of these structures:

• Flat fees for specific document packages
• Hourly rates for more complex planning
• Combination approaches with flat fees for basic documents and hourly rates for additional services

Conclusion: Protecting Your Legacy

Estate planning is, at its core, an act of love and responsibility. It protects those you care about from unnecessary stress, confusion, and conflict during already difficult times. It ensures that your life’s work benefits those you choose, in ways you determine are appropriate. It provides clear guidance when loved ones face difficult decisions about your care.

The peace of mind that comes from having a comprehensive, properly prepared estate plan is invaluable. Knowing that you’ve taken steps to protect your family and preserve your legacy allows you to focus on enjoying life rather than worrying about what might happen after you’re gone.

Getting started is easier than you might think. InPerSuit’s expert matching service connects you with estate planning attorneys who understand your specific needs and can guide you through the process efficiently.

Don’t leave your legacy to chance or let the state decide what happens to all you’ve built. Take control of your future and protect what matters most. Find your estate planning attorney with InPerSuit today – because everyone deserves the security of a proper estate plan.