When Every Dollar Counts: Why Life & Legacy Planning Matters More Than Ever
Last week, I sat across from a client in my Montpelier office—a single mom of two who works full-time and still struggles to make ends meet. She came in feeling overwhelmed, not because she had a lot of wealth to protect, but because she didn’t know how to make sure what she did have would actually help her kids if something happened to her. Her story isn’t unique. It’s one I hear often here in Central Vermont, where families are doing their best to stay afloat amid rising costs and economic uncertainty.
We talked about her goals, her fears, and the reality of what would happen if she didn’t have a plan in place. By the end of our conversation, she said something that stuck with me: “I thought estate planning was for people with money. I didn’t realize it was for people like me.”
She’s right—and wrong. Estate planning is for people with money. But it’s also for people with kids, with responsibilities, with love to give and legacies to protect. Especially now, when every dollar counts more than ever.
The Cost of Living in Vermont Is No Longer Just a Talking Point
The numbers are hard to ignore. Since 2019:
Grocery prices in Vermont have increased 37.4%, the highest in the country.
Transportation-related costs, especially construction and infrastructure, have surged by over 60%.
Home prices rose 38% between 2019 and 2023, and more than half of Vermont renters now spend over 30% of their income on housing.
Mortgage rates have more than doubled since the pandemic, and car payments now average $745/month nationally—trends that directly impact Vermont families.
These aren’t abstract figures. They’re the reason families in Barre, Montpelier, and across Washington County are making tough choices every day—between groceries and gas, between saving and surviving.
And when things are tight, estate planning can feel like something to put off. But that’s exactly when it becomes most important.
Planning Isn’t About Wealth—It’s About Protection
When you don’t have a financial cushion, you can’t afford the chaos that comes from not having a plan. Without clear instructions and legal protections, your assets—no matter how modest—can get tied up in probate court. That means your loved ones might wait months or even years to access money they need for basic expenses, medical bills, or keeping the family home.
Court fees and legal costs can eat up thousands of dollars. For families already stretched thin, that loss can be devastating.
But with thoughtful Life & Legacy Planning, you can make sure your resources go directly to the people you love. You can avoid delays, reduce costs, and create a plan that adapts as your life changes.
A Real Story, A Real Impact
Take Maria’s story. She worked two jobs to support her three kids. She had a small life insurance policy, a modest retirement account, and some savings. But she didn’t have a plan.
When she died unexpectedly, her life insurance was tied up because she hadn’t updated her beneficiary designations after her divorce. Her kids ended up in temporary foster care because no one had the financial means to take them in. By the time everything was sorted out, a significant portion of her assets were gone to legal fees and court costs.
If Maria had created a Life & Legacy Plan, her children would have been protected—financially and emotionally. Her assets would have gone directly to them, and her chosen guardians would have had the support they needed to care for them. Planning isn’t just about money. It’s about love, responsibility, and making sure your values live on.
Let’s Talk About What Matters Most
I know how busy life gets. I know how hard it is to think about the “what ifs.” But I also know how much peace of mind comes from having a plan in place.
If you’ve been wondering whether estate planning is right for you, let’s talk. I offer a free 15-minute call to answer your questions about the planning process—no pressure, just information.
You don’t have to have all the answers. You just have to start.
Warmly,
Sharon