Minimalism May Be Great for Your Stuff and Finances but Not for Your Estate Plan

In a modern world marked by information overload, overflowing inboxes, nonstop notifications, and the constant pressure to accumulate more stuff, minimalism offers a compelling counternarrative.

Born from the mid-twentieth century artistic rebellion and revived in the 2010s on the back of increased digital clutter, climate anxiety, and economic strain, minimalism promises clarity and order based on less materialism and more intention.

Amplified by bestsellers, influential blogs, and decluttering gurus, the minimalism movement has permeated our cultural consciousness and shaped how we approach everything from our wardrobes to our finances. This pursuit of simplicity is, at its core, about reclaiming control in a chaotic world.

However, a minimalist “less is more” mindset for estate planning can leave you and your loved ones unprotected. An estate plan is one area of your life where you should lean into chaos and assert control, not by reducing your plan to the bare minimum but by adding the appropriate layers of complexity.

The Bare Minimum in Estate Planning: Why “Good Enough” Is Not Enough

A minimalist mindset might be fine for your living space but not your estate plan. Minimalism may be up to the task of putting your house in order but not putting your affairs in order.

Although there is no direct evidence linking minimalism to a lack of estate planning, there are circumstantial ties. For example, one of the top reasons given for not having an estate plan is a lack of assets (money and property).^[1]

What does seem to motivate estate planning are personal life events such as family expansion, upcoming travel, health problems, age-related milestones (such as retirement), and the purchase of a significant asset (e.g., a home).

However, by the time the need for a plan emerges, it could be too late. Estate planning is about addressing not only current needs but also potential future needs, which are constantly changing in unpredictable ways.

A minimalist estate plan that includes a last will and testament and a medical power of attorney might hold up under routine, predictable circumstances, but it can easily fall short when things go sideways and become more complicated. Consider these scenarios: 

• You create a will that provides outright distributions to your beneficiaries. However, are those beneficiaries financially responsible enough or legally old enough to handle outright distributions? What if something happens to them in the future, such as a disabling injury, a job loss, or the development of a substance abuse disorder that causes their life and needs to change significantly? Outright distributions to these types of beneficiaries may lead to undesired and potentially harmful outcomes.
• You sign a medical power of attorney prior to undergoing surgery, which might be fine for a known one-off occurrence. However, do you still want that person to make medical decisions for you in the future if you cannot communicate your wishes yourself? Who will manage your finances if you become incapacitated (for example, you are seriously injured in a car crash or have a stroke)? Is there a plan in place to manage your care and answer deeply personal end-of-life questions? Can your family access your protected health records to make informed decisions?

These are just some of the scenarios that a minimalist estate plan can fail to address.

Failure to create a plan that addresses the possibility of your becoming incapacitated can leave your medical care and finances in legal limbo and your loved ones vulnerable to court costs and conflicts. They might not agree about what decisions to make on your behalf, be forced to petition the court for a guardianship or conservatorship, and face unexpected delays and taxes. A minimalist estate plan might also overlook assets such as digital assets and collectibles, which can often be a source of contention and require court intervention. That is why your estate plan should include multiple tools that work together to provide comprehensive protection under a multitude of circumstances, both likely and less likely. A plan that does not include the following may come up short when it matters most:

• Last will and testament. If chosen as the foundational document of your estate plan, a will directs how your assets will be distributed upon your death (i.e., who gets what) and names a guardian for your minor children.
• Trust (testamentary or revocable living trust). Trusts offer greater control over the inheritance you leave behind. A testamentary trust is created within your will, while a revocable living trust is established during your lifetime and can help manage assets both during your life and after your death.
• Financial power of attorney. A financial power of attorney designates someone you trust to manage your financial affairs if you become unable to do so yourself, avoiding the need for costly and time-consuming court intervention.
• Medical power of attorney. A medical power of attorney names someone who can step in immediately to communicate or make healthcare decisions on your behalf if you are unable to do so due to illness or injury.
• Advance directive or living will. Advance directives outline a person’s wishes regarding medical care and end-of-life care preferences. 
• Health Insurance Portability and Accountability Act (HIPAA) authorization form. This form lets you designate people who are authorized to access your medical information that is protected from disclosure under HIPAA. Access to your protected health information allows your loved ones to communicate more effectively with your healthcare providers and gather important details that may assist in managing your care if needed.

These basic documents are just the starting point for a robust estate plan that covers all of your bases and leaves your family well protected. For added protection, you may also want to incorporate documents such as digital asset authorization, letters of instruction that provide more details about how to distribute items and where to find them, funeral and disposition of remains directives, a standalone guardianship designation for minor children, and a pet trust or pet care directive.

Less Is More—Until It Is Not

With estate planning, less is not more. More is more. Your estate plan should follow a maximalist mindset that goes beyond the bare bones and embraces abundance, detail, and sometimes even excess.

Investing the time and effort to create a well-rounded estate plan is not about accumulating more “stuff”; it is about thoughtfully arranging your affairs to ensure a secure and well-defined future for you and the people you care about most.

Do not let the allure of the bare minimum leave you and your family vulnerable. Please reach out to us at (408) 371-6000 or info@sowardslawfirm.com for more information.