Taylor Swift is Everywhere – Even Estate Planning

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Let’s Learn About Estate Planning with Taylor Swift’s “The Tortured Poets Department”

In a new twist to create some excitement in the Estate Planning arena, let’s look at “The Tortured Poets Department (TTPD)” album and gain insight. We should start with the idea of a Tortured Estates Department. This reviews the breadth of fundamental estate planning tools like wills and revocable trusts and all their iterations. People may feel tortured by choosing what tools they need in their Estate Plan. By using estate planning professionals like those at AJM&A, you can reduce the stress involved and mitigate the tortured feeling. The choice of tools often depends on the individual’s familial and financial dynamics, desire for privacy and desire for control over asset distribution.

Here is a set list of songs from TTPD with Estate Planning undertones:

I Can Do It with a Broken Heart -In addition to wills and trust, estate planning extends to drafting Durable (General) Powers of Attorney, Health Care Powers of Attorney and Advanced Directives/Living Will. These legal documents empower you to manage your personal and financial affairs under challenging circumstances a.k.a even with a broken heart,

Down Bad -Taylor Swift sings the chorus “I might just die; it would make no difference”. Not to contradict Swift but if you pass away without any estate plan in place people will care. Without an estate plan, your loved ones may face unanticipated negative consequences, and it does make a difference.

I Look in People’s Windows – As estate plans are flexible and personalized, it helps our legal team to look in people’s windows. This helps us better understand a client’s family situation and financial dynamics. We do so with a questionnaire and one-on-one meetings, obviously, we aren’t lurking outside a client’s home peeking in.

Chloe or Same or Sophia or Marcus – While these might not be the names of your potential executor or trustee, it underscores the need to name people in your estate plan. Who you chose as a fiduciary is a deeply personal choice. Our estate planning team helps you identify the person in your entourage most competent to serve these roles.

“loml”- This Swift song uses the acronym “loml” as “love of my life” and “loss of my life.” In estate planning, we set up provisions for spouses and contingencies for loss of beneficiaries or fiduciaries in your estate plan.

The Black Dog – We understand that pets can be like family members for certain people. There are strategies to care for your furry family upon your death. There is even the option of a Pet Trust if needed.

Imgonnagetyouback – The flexible nature of wills and trusts allow for amendments and revocations as life evolves and circumstances change. You are free to remove beneficiaries or create amendments to change how your assets are distributed, when you feel wronged by people you previously adored.

Alchemy – Estate plans can turn to gold when we collaborate with our in-house CPAs and/or your financial advisors. The preparation and execution of your estate planning documents are only the first phase of the estate planning process.

In summary, we “Taylor-ed” the complexities of estate planning into the theme of pop music to show how approachable it is. Working with estate planning professionals lets you create a plan that honors your personal goals and safeguards your wealth. We recommend working with a knowledgeable estate planning attorney to ensure that your plan not only represents your current intentions but also adapts to future circumstances. Contact us with any estate planning questions, we can play Taylor Swift in the background if it helps.