Attorney Mark Umeda and Barry Mathis discuss what happens if you don’t create an estate plan before it’s too late.
Here is a transcription from a clip of Real Talk on Real Estate episode 153 on probate
Barry: Hey Mark, is Sammy Hagar someday going to have to use your services or the services of someone like you?
Mark: At some point, everybody has to plan ahead and use the services of an estate claim attorney.
Barry: So he probably does have an Estate Plan? So this is something that everyone has to do.
Mark: I wouldn’t presume to believe that he has or doesn’t have a plan. Sometimes the people who think they have a plan, don’t have a plan at all. It’s just a question of a lot of different things. People try to put it off. They procrastinate. They don’t want to talk about death and dying with somebody for an hour or so. So they just put it off and then one day they’re not able to make those decisions anymore and it’s too late.
Barry: You know, the nice thing is that if you don’t make the decisions yourself, if you just wait and prolong it, the nice thing is that someone from the government will come in and make those decisions for you. Isn’t that what we all want? At least those decisions won’t go unmade. I mean, somebody’s going to make the decisions, right?
Mark: Sarcastically, I’ll say that the government’s going to step in and be one more part of your life and your death.
Barry: I didn’t want them in my life when I was alive. I’m surely not going to want them in my life when I’m dead.
