Perhaps you are aware Abraham Lincoln was the sixteenth President of the United States, freed the slaves, worked as a lawyer, wrestler, rail splitter, and poet. But did you know this lawyer turned United States President died intestate, which is to say without a Will or Estate Plan?

Lucky for Lincoln and his family, his political ties provided him some clout and a chance to rub shoulders with some pretty influential people. As it turned out, one of those people was Supreme Court Judge and family friend Justice David Davis.

At the urging of Lincoln’s family, Davis asked to be and was appointed the administrator of Lincoln’s estate.

Lincoln died in April of 1865. His estate settled November of 1867.

The estate which was worth more than $110,000 went to Probate court. The amount of $38.31 was deducted and given to creditors. The rest of the money was split in equal thirds with one third given to his wife, and the remaining two thirds divided between his two children.

Economists believe the lawyer’s fees and expenses owed to Justice Davis equaled $6,600. However, Davis refused the money.

Here is the rub.

Even with their influence, Abraham Lincoln’s family had to wait 19 months before receiving their inheritance.

To put this in perspective, that is over a year and a half of having to pay bills, mortgages, rents, taxes and additional taxes on property and or assets inherited but not yet received, all while waiting for an inheritance.

Luckily, the Lincoln’s were well connected and persevered.

As twenty sixth President Theodore Roosevelt would have undoubtedly said, if you can find a Supreme Court Judge willing to administrate your probate and waive his fees, “bully for you!” Otherwise, you might want to consider getting an Estate Plan.

You walk into the Streeter Law Group office. You meet attorney Debbie Streeter. She answers your questions and informs you of current estate planning laws, speaking with you (not at you), in a language you understand. You feel great about the process, the attorney, the staff, and the experience as a whole. You decide to work with her (us), and we draft a plan that fits your individual needs.

Fast forward a couple of weeks. You are sitting again in our office. We present you with a nice stylized binder. Your estate plan is inside. A proverbial weight has been lifted.

You stand to leave. You pick up the binder. Now a new question crosses your mind … where do I put this thing?

The question of storage is one frequently asked. So, what do you do with those original signed documents anyway?

The simple answer is to put them someplace safe and accessible, with key emphasis on the word accessible.

Some clients choose to store their plans in safe deposit boxes or home safes. Both are smart choices. However, whatever you choose, make certain you aren’t the sole person granted access to open the box, knowing where the key is, or having the combination. Otherwise, your plan might get lost, and if no one can retrieve your plan, it is as good as useless.

Many clients prefer copying their plans, as to provide copies to those who will benefit most or be in the greatest need of a copy later. Tech savvy clients have been known to scan the information and store it on a flash drive. In either case, the challenge is if you make changes to your plan down the road, you must make certain those previous copies are destroyed.

However, if you as a client do misplace or lose your plan, you should contact your estate planning attorney immediately. In most cases (if the attorney or firm is still in practice), they might have a copy. At the same time, they might not, so one shouldn’t rely on this method solely as substitute to safeguarding your estate plan.

The lesson here is simple. Keep your plan accessible. Make certain those you love (at least those you’ve chosen as successor trustee), can get a hold of your plan should they need it. If all else fails, have someone contact your attorney’s office.

It wasn’t long ago we received a call from the adult daughter of a client. Our client was days from surgery and understandably, her daughter was nervous. The client had given her daughter her estate plan “just in case.” She also reminded her daughter she was named as the agent, meaning it was the daughter’s responsibility to make decisions should anything go wrong during surgery.

Having been reminded of this provision, the daughter skimmed the estate plan. She admittedly didn’t know which document held this information and was unable to find the language (found in the Advance Health Care Directive), which prompted her call. The daughter was hoping we would steer her in the right direction. – And so we did.

As it turns out, the surgery went well, the directive wasn’t needed and the client recovered.

Here is the point …

We have spent a lot of time writing about Wills and Trusts, but they aren’t the only documents needed for a complete estate plan. Another which can be of great significance and use is the Advance Health Care Directive.

If you have an estate plan or have ever met with an estate planning attorney, then you are probably aware of the Advance Health Care Directive (commonly referred to as a Living Will).

In a nut shell, the Advance Health Care Directive is a legal document which per your request, lets your doctor, family and friends know your individual health care preferences. This includes the types of special treatment you might want (diagnostic testing, surgical procedures, cardiopulmonary resuscitation, etc.) or treatments you might not want at the end of life.

It allows you to name an agent you wish to make health care decisions on your behalf (like the daughter from our illustration), should you become incapacitated, or simply do not want to make those decisions yourself.

In short, it provides comfort and some semblance of control when you are most vulnerable.

If you would like to learn more about the Advance Health Care Directive or other estate planning documents, please schedule and appointment with an estate planning attorney.

To die without the benefit of a Trust is to drag your family through probate. Once probate begins, the easiest probate (one backed by a well drafted Will) can take a minimum of six months. More complicated probates without the benefit of a Will can last as long as two years.

So, why don’t more Americans have Wills, Trusts or Estate Plans? The answer might lie in our fear of talking about or planning for death (ours or our loved ones). But if talking about death bothers us so much, why do it?

Having lost his father to cancer nearly fifteen years ago, a staff member shared this story. The staffer’s father, a smoker of several years, died during a surgery intended to remove the cancer. In the weeks prior (even in the face of a daunting surgery), the staffer fought all attempts made by anyone, including his father to talk about the very real possibility of his dad dying during surgery.

Our staffer confessed he never discussed the possibility of his father’s death because he felt doing so meant giving up, while not doing so meant keeping faith. Nevertheless, his father died.

The immediate family was over taken by grief. The mother shouldered most of the burden. In doing so, she informed the extended family and friends, made funeral arrangements, and provided her children a shoulder to cry on. It wasn’t until weeks after the funeral the staffer confessed to his mother, he would have preferred his father had been cremated. His mother agreed she too thought it would have been best, leaving the staffer to wonder (but never knowing), whether his father felt the same.

It might surprise many readers to learn, the majority of clients express excitement when receiving their plans. Why? Most say they are relieved knowing everything has been taken care of. They say it makes them feel as if a weight has been lifted.

But what if you don’t have an estate?

Regardless of whether or not you have an estate, which is to say regardless of whether you own properties, businesses, possessions, monies or have minor children, there are still other important questions to be answered. Such as, do you want a funeral? If so, open or closed casket? Would you like to be cremated? If you own a pet, who would you like to take care of your pet? Do you have any heirlooms, wedding bands, appliances, etc. you want given to a particular person or organization?

Whether you have a little or a lot, planning for death is beneficial. Having your house in order will not only remove a weight from your shoulders, but when the time comes, it will lessen the load on who you love most.