Estate planning isn’t exactly a thrilling topic—most of us would rather think about anything else. But here’s the thing: if you don’t have a plan in place, the government might end up deciding what happens to your home, your assets, and even your kids.
That’s why I sat down with Oscar Vasquez, founder of Estate Doc Prep, on this week’s To Your Health podcast. Oscar has spent years helping families avoid the costly and complicated process of probate, and he’s breaking down exactly what we need to know about wills, living trusts, and why getting your estate in order now is one of the best things you can do for your family.
What Happens If You Don’t Have an Estate Plan?
If you don’t have a legally sound estate plan in place, your loved ones could face:
- Probate court – A long, expensive process where the court decides how your assets are distributed.
- Massive legal fees – Probate can cost up to 8% of an estate’s total value, draining thousands from what you meant to leave behind.
- Delayed access to funds – Your family might wait months (or even years) before they can access your home, bank accounts, or retirement funds.
- Decisions made by the state – If you have young kids and no legal guardianship plan, the court—not you—will determine who cares for them.
Wills vs. Living Trusts: What’s the Difference?
Many people assume having a will is enough, but Oscar explained why a living trust is often the better option:
✔️ A will tells the court your wishes. It does not prevent probate—your family still has to go through the court process.
✔️ A living trust is legally binding. It bypasses probate entirely, ensuring your assets are distributed exactly as you intended.
✔️ A trust protects your family’s privacy. Probate records are public, meaning anyone can see what you owned and who inherited it. A trust keeps everything private.
✔️ It gives you more control. You can set conditions, like distributing assets over time instead of all at once—helpful if you want to protect young or financially inexperienced beneficiaries.
Even If You Don’t Own a Home, You Still Need a Plan
Think estate planning isn’t relevant because you don’t own a house? Think again. Even if you only have digital assets, retirement accounts, or dependents to consider, a plan ensures that:
- Your money goes to the right people without delays.
- Your loved ones can access necessary accounts and funds without jumping through legal hoops.
- You have a designated power of attorney in case of a medical emergency.
How to Get Started Without Overwhelm
One reason people avoid estate planning is that it feels expensive and complicated. But Oscar shared that creating a comprehensive estate plan doesn’t have to cost thousands or involve complicated legal processes.
If you’ve been meaning to “get around to it,” let this be your sign to make it happen.
It’s one of the most important things you can do for your family.
📌 Listen to the full episode here:
Oscar Vasquez
Did you know that 68% of Americans don’t have a valid will or estate plan? For homeowners, this means their loved ones could face the harsh reality of lengthy, expensive probate processes, often losing up to 8% of the estate’s value in fees.
Oscar Vasquez is the founder of EstateDocPrep.com. He specializes in helping families avoid these unnecessary burdens by creating living trusts and other essential legal documents. He brings practical insights, real-life examples, and a clear message: estate planning isn’t just for the wealthy—it’s for anyone who wants to protect their home, assets, and family.
