does legal insurance cover estate plans

Get a Free Estate Plan by Using Your Legal Insurance Company Benefit

Here’s news I find disappointing: A recent 2021 survey found that only one out of three Americans has an estate plan. This means that two out of three people haven’t made some important decisions, such as who they want to be a guardian for their minor children — or how they want their estate to be distributed.

Bob Monroe with Mesa AZ-based Fleming & Monroe
Hi, I’m Bob Monroe, a founding member and co-owner of Fleming & Monroe in Mesa. Our firm’s practice areas include estate planning, personal injury law and commercial litigation (e.g., construction and real estate disputes).

Some of these individuals may know what they want to do but haven’t made time to put their choices in writing. Not doing so can cause problems down the road, almost guaranteed.

Estate Plans and Your Legal Insurance

We’re trying to remedy this one-out-of-three statistic at our firm Fleming & Monroe by making people more aware of how legal insurance, a company benefit offered by many employers here in the East Valley, typically covers the cost of an estate plan.

You may have heard of legal insurance companies before, such as ARAG and MetLife. If your employer offers a legal insurance benefit and you signed up for it, you can get an estate plan at no cost to you. You just have to contact your company (typically, someone in Human Resources) to get a claim number. Then, contact us so we can start preparing your free estate plan.

Check Your Legal Insurance Benefit

Here’s something else to know: legal insurance plans can be slightly different and are dependent on what coverage an employer agreed to. Some legal insurance covers the full estate plan — and even the full revocable trust and powers of attorney documents — and some cover just part of the estate plan. But most cover at least some aspect of the estate plan, so getting it at no cost is still a win for you! And, besides, you may be paying part of the legal insurance benefit cost out of each paycheck, similar to how you pay for health insurance … so why not take advantage of what you’re already paying for.

Now that you know more about legal insurance, there’s no reason to not use it or at least sign up for it next time your company lets you make a change to your benefits. This is typically done during annual open enrollment unless you have a “qualifying event,” such as a change in your household (marriage, divorce, etc.) or need to add a new dependent, such as the birth or adoption of a child). (Again, check with HR to understand your options because there are more than the ones I mentioned.)

Ready to Get Your Free Estate Plan?

You can help make the one-of-three numbers a little better by getting an estate plan in place — and there’s no “excuse” if you have legal insurance. Contact me or my partner, Jacob Fleming, today or call our Mesa office at 480-534-7355, so we can start getting your critical decisions in writing for you. You’ll soon be able to cross a big item off your to-do list and have peace of mind knowing these things will be taken care of.

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