What Your Estate Planning Documents Can’t Protect You From: Yourself!

by Brad Baker

Let’s talk about something we all love to avoid: planning for the future, especially the not-so-fun parts. You know, like what happens if you’re not in the best shape to make decisions. At Baker, Burton & Lundy, we craft comprehensive estate planning documents—such as powers of attorney, advance health care directives, and revocable living trusts—to help your trusted folks step in when needed. But here’s the kicker: these documents can’t save you from your own questionable choices.

Well done estate plans avoid the need for court-supervised conservatorships. Conservatorships empower appointed individuals—often family members or professional fiduciaries—to make medical and financial decisions on your behalf when you don’t have a well-done estate plan in place. The flip side of the coin is that it legally deprives a person of the ability to contract. Conservatorships often cost tens of thousands of dollars in attorney’s fees and court costs in the first year alone, and likely incur legal expenses of around ten thousand dollars annually thereafter.

When Your Biggest Threat Is… You

While well-drafted incapacity planning documents empower your loved ones to act as your legal agents under durable power of attorney or successor trustee, they don’t have a built-in “bad decision” detector. If you’re wiring money to that “Nigerian prince” or buying your fourth luxury car this month, your estate plan won’t intervene. In these cases, only a court-ordered conservatorship—often initiated through a legal petition—can restrict your ability to contract and take away access to your financial accounts to protect you from, well…you!

The Unpopular Hero: Conservatorship

If a family member suggests a conservatorship, don’t be too quick to cut that person out of your estate. It’s a tough, thankless legal proceeding that no one volunteers for just for kicks. They’re likely stepping up because they care and want to protect you from potential self-inflicted financial harm. Acting as a conservator comes with fiduciary duties, court oversight, and personal sacrifice.

A Friendly Nudge for Future You

Will you remember this chat 20 years down the line when decisions get a bit fuzzy? Probably not. But consider this a gentle reminder to be kind to that loved one who’s looking out for you. Sometimes, the only way to truly protect you is to legally protect you from yourself—because estate planning is only half the battle. The other half? Accepting help when it matters most.

Please note: This document does not constitute legal advice. Please consult an attorney for legal advice on what to do in a particular situation.