Stop Avoiding the Inevitable: October is Estate Planning Awareness Month

(Spoiler Alert: It’s not just for the really rich, and it’s about more than your money.)

Okay, let’s be real. If financial tasks were a Netflix queue, estate planning would be that Oscar-winning documentary you know you should watch, but you keep choosing the easy-to-binge reality show instead. It sounds heavy. It sounds morbid. It sounds like something for “later.”

But here’s the thing: October is Estate Planning Awareness Month. And we’re calling you out (with love!) to finally hit ‘play’ on this essential piece of your financial life.

Estate planning isn’t just about what happens after you’re gone. It’s about peace of mind right now. It’s about protecting your loved ones from a legal and financial nightmare. And most importantly, it’s about making sure your voice is heard even when you can’t speak.

The Big Myth: “I Don’t Have an ‘Estate.’”

If you have a bank account, a car, a favorite coffee mug, or—crucially—people you care about, you have an estate. Your “estate” is simply everything you own.

The truth is, whether you have a plan or not, you will have an “estate disposition.” The only question is: Will you decide it, or will the state decide it for you?

If you die without a Will (intestate, in legalese), your state’s laws kick in. This means:

• A court-appointed stranger decides who gets your assets.
• Your family could face a lengthy, expensive, and public probate process.
• If you have minor children, a judge—not you—decides who will raise them.

Ugh. That’s the real nightmare scenario.

The Bare Minimum Checklist: 3 Documents You Need Now

This is your starting line. Don’t feel like you have to set up complex trusts right away. Just get these three foundational documents done this month:

1. Last Will and Testament

This document dictates where your stuff goes (assets, property, etc.) and, most importantly, names a Guardian for any minor children. Without this, your wishes are irrelevant.

2. Durable Financial Power of Attorney (POA)

This names a trusted person (your “agent”) to manage your finances if you become temporarily or permanently incapacitated. Think paying bills, managing investments, and handling banking. This is protection while you are still alive.

3. Healthcare Directive (Living Will & Healthcare POA)

A two-part essential:

• Living Will: Outlines your wishes for life-sustaining treatments if you are terminally ill or permanently unconscious.
• Healthcare POA/Proxy: Names a person to make medical decisions for you if you cannot communicate them yourself.

Miso Money Pro Tip: These three documents don’t have to be expensive or complicated. While a full legal consultation is best, online services can help you create legally valid baseline documents in a matter of hours. Just make sure you follow your state’s signing/witness rules exactly.

One Non-Legal Action Step That Stops Fights

Estate planning isn’t just about legal documents; it’s also about organization. Do this one thing for your family:

Create an “In Case of Emergency” File (Digital or Physical)

Your loved ones will be grieving. Don’t make them go on a scavenger hunt. This file should be easily accessible to your chosen Executor/Agent and should contain:

• Copies of your 3 key documents.
• A Master Asset List: Account numbers and login instructions (stored securely!) for bank accounts, investment accounts, credit cards, mortgages, insurance, etc.
• Beneficiary Designations: A list of where you named beneficiaries for accounts that pass outside your Will (like 401(k)s, IRAs, and life insurance). Crucially: Make sure these are up-to-date!
• A list of professionals: Your financial advisor, attorney, and accountant’s contact info.

Your October To-Do: Schedule the Appointment

Use Estate Planning Awareness Month as the kick in the pants you needed. Don’t just think about it; book a consultationwith an estate planning attorney or financial advisor this month.

Even if you just start with a simple conversation, you’re building a legal safety net that shows true love and care for your family. Future You, and your relieved loved ones, will thank you.

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What’s the one thing holding you back from completing your estate plan? Drop a comment below—let’s demystify this together!