E321 The Frictionless Solo Ager Estate Plan

<p>A frictionless first estate plan is a great first step for Solo Agers with no plan at all. It helps Solo Agers clarify their thinking and decisions, all while having a basic plan in place in the meantime.</p> <h2>Why Solo Agers need a frictionless first plan</h2> <p><img class="aligncenter size-medium wp-image-44082" src= "https://anthonyspark.com/wp-content/uploads/2023/06/Why-solo-agers-need-a-frictionless-first-plan-300x169.jpg" alt="Why solo agers need a frictionless first plan" width="300" height="169" /></p> <p>We’ve heard from many folks who are stressed because they have no plan whatsoever. In general, Solo Agers don’t have the traditional heirs and family members available to fill the executor role, so it is important to have something in place.</p> <p>The reason why many Solo Agers don’t have a plan is often because of analysis paralysis. While estate planning is a series of decisions, some people get stuck analyzing every detail. Of course, there is also the fear of making the wrong decisions and the consequences that come from that. The biggest fear is choosing the wrong fiduciaries.</p> <h2>Why a frictionless plan?</h2> <p><img class="aligncenter size-medium wp-image-44083" src= "https://anthonyspark.com/wp-content/uploads/2023/06/Why-a-frictionless-plan-300x169.jpg" alt="Why a frictionless plan?" width="300" height="169" /></p> <p>A frictionless plan is a version of your estate plan that is as low-cost and as low-headache as possible.</p> <p>When your estate plan is low-cost, psychologically it is easier to make decisions, because you realize that it’s not a big deal to make changes if needed. People feel more at ease when spending a few hundred dollars versus a few thousand dollars to create a plan and make changes when needed. Low-cost solutions allow you to easily reverse or change your plan and not feel like it is set in stone.</p> <p>With a low-cost solution, the fear of making changes won’t prevent you from having any plan at all.</p> <h2>Example of a frictionless solo ager estate plan</h2>