Don’t Procrastinate on Estate Planning

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Procrastination is human nature, especially when it comes to estate planning. Many think, “What’s the worst that can happen?”—believing it’s only about deciding who gets their money after they’ve passed away. Unfortunately, that perspective is short-sighted. A lack of planning can cause significant issues—not just for your assets, but for you and your loved ones while you’re still alive.

 A Cautionary Tale: Perry “Bit” Whatley  

procrastination

Perry Whatley, affectionately known as “Bit,” lived a modest life in Baytown, Texas. A refinery worker, he had a knack for frugality and made a savvy early investment in Humble Oil, which eventually became Exxon Mobil. Over time, that small investment grew into a fortune worth millions.  

Despite his financial success, Bit didn’t prioritize estate planning. While he had once established a power of attorney, he later revoked it and failed to take further steps. As Bit aged, his health declined, and his reliance on a caretaker increased.  

His niece, Jeannie Anderson, grew concerned when the caretaker, Dawn Johnson, seemed to be taking control of her uncle’s life. Jeannie’s fears deepened when Bit married Dawn. Concerned for her uncle’s well-being, Jeannie sought the probate court’s intervention to assess Bit’s capacity and protect his assets.  

This led to a bitter legal battle between Jeannie and Dawn, which dragged on for over two years. During that time, Dawn took Bit out of state to avoid court orders, isolating him from family. By the end of the fight, three-quarters of Bit’s fortune had been consumed by legal fees. Tragically, Bit passed away during this time, far from his family and embroiled in conflict.  

 Avoiding the Worst  

Most of us would never want to spend our final days in such turmoil—separated from loved ones, trapped in a legal battle, and watching years of hard-earned wealth dwindle. Bit’s experience underscores the importance of proactive estate planning, not just for after your death but for your well-being while you’re alive.  

Here’s how Bit’s situation could have been avoided:  

1. Revocable Living Trust  

By placing his assets in a Revocable Living Trust, Bit could have maintained control over his finances while healthy. If incapacitated, a successor trustee—chosen by Bit—could have stepped in to manage his affairs, avoiding court involvement entirely.  

2. Complementary Powers of Attorney  

   A well-drafted power of attorney for financial and medical decisions would have ensured trusted individuals were authorized to act on Bit’s behalf when necessary.  

3. Proactive Planning with a Legal Expert  

   An attorney experienced in estate planning could have structured Bit’s plan to safeguard his assets, protect his autonomy, and prevent family conflicts.  

 Estate Planning Is About More Than Money  

Estate planning isn’t just about distributing your wealth after death—it’s about maintaining control and protecting your quality of life. The right plan empowers people you trust to step in during times of need, avoiding costly and emotionally draining court battles.  

By taking action now, you can prevent stories like Bit’s from becoming your own. Consult an estate planning attorney today to ensure that your future is secure and your loved ones are protected.

From the desk of Attorney Brandon McGee

Brandon McGee
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