3 Things 1-05-2026

Thing One

Don’t Let the Court Write Your Final Plan

Picture this: After a lifetime of hard work, you’ve built meaningful assets and settled into a comfortable retirement—then you pass away unexpectedly, without a will. It’s not something most people want to contemplate, and for you, there would be nothing left to contemplate. For those you leave behind, however, there would be much to consider, including the hardships that would ensue as a result of your not having a will in place to guide what comes next. The following provides a brief look at what typically happens when someone passes away with a will versus without one. If you already have a will, good for you and your family. If you don’t, this information may help clarify what’s at stake and encourage you to act.

When someone dies with a will, they leave clear written instructions for what happens next. A will spells out who receives assets, who is responsible for handling the estate, and often who should care for minor children. While the process is never easy emotionally, having a will removes much of the uncertainty and confusion during an already difficult time.

Even with a will, most estates go through probate, the court-supervised process that validates the will and oversees the transfer of assets. The difference is that a properly drafted will typically makes probate far more efficient. The court’s role is more limited, fewer decisions are left open to interpretation, and the process generally takes less time and costs less in legal and administrative fees.

Without a will, probate becomes more involved and more expensive. The court must apply state intestacy laws to determine who receives your assets, regardless of what you may have wanted. A court-appointed administrator—who may not be someone you would have chosen—must manage the estate, often resulting in longer delays, higher attorney fees, and increased court costs.

Those delays matter. Assets can be tied up for months or even years while probate works its way through the court system. During that time, loved ones may not have access to funds they were counting on, adding financial stress to an already emotional situation, and increasing the likelihood of family conflict.

One of the biggest barriers people cite to creating a will is cost, but for many straightforward estates, it doesn’t have to be expensive. Today, several reputable online platforms offer simple, legally valid wills at a fraction of the cost of traditional legal services. Popular options include LegalZoom, Trust & Will, Rocket Lawyer, and FreeWill, all of which guide users through the process with step-by-step questionnaires designed for basic estate planning needs.

These low-cost or DIY options can be a practical solution for individuals with uncomplicated assets and clear wishes. While more complex estates may still benefit from working with an attorney, even a basic online will is far better than having none at all and leaving decisions entirely in the hands of the probate court.

If you already have a will, reviewing it periodically helps ensure it still reflects your wishes. If you don’t, taking advantage of an inexpensive online option can be a simple step that saves your family time, money, and unnecessary stress when they need peace of mind the most.

Thing Two  

A Perspective On “Average”

According to Vanguard, one of the largest retirement plan managers in the country, retirement savings remain far more modest than many people assume. For individuals between the ages of 55 and 64, the average 401(k) balance is now just under $200,000, while the median balance—meaning half of savers have more and half have less—hovers closer to $75,000–$80,000. For those age 65 and older, the median balance remains in the same range, roughly $70,000–$75,000. These figures suggest that a large portion of Americans are entering retirement with limited accumulated savings, even after decades in the workforce.

To put those numbers in perspective, longevity must be part of the conversation. Someone who reaches age 65 today can reasonably expect to live another 18 to 20 years, and many will live well beyond that. Retirement, therefore, is not a short phase of life—it is often a multi-decade financial obligation. Stretching relatively modest savings across that length of time can be challenging, especially when inflation, healthcare costs, and market volatility are taken into account.

Social Security helps, but it was never designed to serve as a primary income source. The average Social Security retirement benefit today is roughly $18,000 per year, and for many retirees it is less. When combined with withdrawals from an “average” retirement account, total annual income in retirement can easily fall below $25,000, and in many cases closer to $20,000. That level of income may cover basic necessities, but it leaves little room for rising medical costs, unexpected expenses, travel, or maintaining the lifestyle many people envision for their retirement years.

This leads to an uncomfortable but important question: are you on track to be average? And if so, is “average” truly sufficient for the retirement you want? For many people, discovering that they are merely tracking national averages is a wake-up call, not a reassurance. The good news is that recognizing a shortfall earlier rather than later creates opportunities—whether through increased savings, better investment alignment, strategic planning, or adjustments to expectations.

The bottom line is that retirement success is rarely accidental. If your current trajectory mirrors these averages, it may be time to reassess and take a more proactive approach. And if you’re unsure where you stand or what adjustments make sense, that’s exactly where thoughtful planning and professional guidance can make a meaningful difference.

Thing Three

Just A Thought  

"I always wanted a happy ending... Now I've learned, the hard way, that some poems don't rhyme, and some stories don't have a clear beginning, middle and end. Life is about not knowing, having to change, taking the moment and making the best of it..." - Gilda Radner