Written by Stephanie Faris, Attorney
March Madness is in full swing, but as we near the end, it’s really starting to test our predictions. I’ve been going through my bracket picks and thinking about the tough choices I made. Did I make the right call? Or did I miss the mark?
Filling out my bracket this year was as complicated as always, considering all the family ties I have to various schools. It’s not just about picking my favorite team and hoping they win. I carefully weigh each match-up, thinking about which team deserves my loyalty in that particular game.
For example, my number one team will always be Duke—my alma mater. Go Blue Devils! But here's where it gets tricky: I also root for Carolina (my husband’s alma mater) when they’re not playing Duke. And then there are my Big Ten loyalties—thanks to my dad’s time at Ohio State, my mom’s connection to Purdue, and the extended family ties to Indiana. It’s a delicate balance, but I pick my team based on the match-up, just like when planning an estate.
Now, think about the University of Maryland. My aunt was a diehard Maryland fan. So, I’d root for them when they weren’t playing Duke or Carolina. But in 2002, I was faced with a tough call: Maryland vs. Indiana in the Men’s NCAA Championship. Neither was my alma mater, so I had to dig deeper. My sister went to Indiana, so that was an obvious choice. But Maryland was in the ACC, so there was loyalty there too. In the end, I chose Maryland (and they won!), but my sister still hasn’t forgiven me!
When it comes to estate planning, these decisions remind me of the tough choices I help my clients make. Who do you trust to make healthcare decisions when you can’t? Who’s the best person to manage your finances? And who do you want to raise your kids if something happens to you?
It’s easy to think you only need one person for each job, but that might not always be the best solution. Just like picking my favorite teams, the right choice often comes down to finding the right person for the right role. Maybe you need one person to manage healthcare decisions, another for finances, and someone else to care for your kids. Sometimes the best “team” is a group of trusted people working together to fulfill your wishes.
Now that we’re nearing the end of March Madness, it’s a great time to reflect: If you’ve already made your estate planning choices, are they still the right ones? If you haven’t made any choices yet, don’t wait until the final buzzer!
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