In a recent episode of the Julia & Gino podcast, hosts Julia & Gino spoke with Zach Sakyus, the founder of Fast Will, a company revolutionizing estate planning. The conversation sheds light on the critical reasons why everyone needs an estate plan, the problems that arise from not having one, and how new technologies are making the process easier than ever before.
Why Procrastination Is a Problem
According to Zach, around 70% of the U.S. population does not have an estate plan. Many people put it off because they find the process intimidating, confusing, and expensive. People may not like talking to lawyers or want to deal with a topic that is inherently difficult to confront. However, the time spent worrying or putting it off is often far greater than the time it would take to simply get it done.
The Consequences of Dying Without a Will
When you die without a will or trust, you are said to die “intestate.” This means the state takes over and creates a plan for you, a process known as probate.
Probate can be a long, expensive, and public process. The government will decide what happens to your assets and, most importantly, who will be the legal guardian for your children if they are under 18. This is a particularly scary thought for many parents, as the court’s decision may not align with their wishes. Additionally, this process often creates family disputes over assets, both large and small, at a time when family members are already grieving. A trust, on the other hand, allows you to avoid the probate process entirely, keeping your estate private and out of the courts.
Debunking Common Misconceptions
One of the biggest misconceptions about estate planning is that a trust is only for the ultra-wealthy. Zach Sakyus stresses that this is not true. If you own a home or are saving for retirement, you should consider a trust. While a will provides the court with instructions, a trust keeps your estate completely out of the court system.
The Emotional and Relational Benefits of Planning
The conversation also highlights the significant emotional benefits of having an estate plan. Having these conversations can be uncomfortable, but the feeling of relief afterward is immense. By creating a plan, you alleviate future stress for your loved ones. As Julia and Gino shared, dealing with estate matters while grieving is incredibly painful. Making these decisions when you are in a clear emotional state is a responsible way to protect your family’s future.
Furthermore, having these conversations with a spouse or partner can strengthen your relationship. Going through the process together builds a stronger bond as you get on the same page and work toward a common goal for your family’s legacy.
Take Action and Review Your Documents
The discussion concludes with a call to action: don’t put it off. To get started, you can visit fastwill.com and use promo code 2025 for 15% off.
It is also important to remember that even if you have a will or trust, you should review your documents every few years. As your life changes (marriage, kids, new assets), your plan should change with it. Fast Will provides an easy way to edit your documents at any time.
This blog post is based on the YouTube video “The Importance of Wills and Trusts – Julia & Gino Podcast” [https://www.youtube.com/watch?v=jNxHTirX08o].
