I once had a client who asked me to create a comprehensive estate plan, the whole package: trust, will, power of attorney, etc. It was exactly what she needed.

So I drafted the documents, she signed them. She died about a year later.

At this point, you may be thinking, “But good thing she had estate planning documents, though, right?” There was just one problem:

There was no money left in the estate for the heirs.

My client spent all this time and thought and money for a great estate plan that was ultimately (essentially) useless because she spent all her money.

Most people want an estate plan primarily to make it easier for their loved ones to get the property you leave them. But if you don’t have any property to leave, then the plan doesn’t do much.

The point is this: Estate planning is much broader than simply creating legal documents that pass on your “stuff.” It also involves creating a financial plan to make sure you have “stuff” to pass on.