The quote above comes from Peter F. Drucker. It is quite a precise description of how important planning is. It should be as Drucker wrote and published a number of books around that subject.
It’s true that some things are better left to chance. However, when it comes to big life decisions, it’s never too late to start planning. You don’t want to end up beseeching someone for help in a situation you could have avoided.
Estate planning involves establishing a plan of action involving financial affairs for a time where you might not be able to make decisions in real-time. Whether you are at the peak of your career, just starting out or about to retire, your estate planning attorney will help you set up a trust or will to get you started.
While you, with your lawyer, learn more about estate planning as you go, you will come across terms for estate planning tools you haven’t heard before. Power of Attorney (POA) is one of those tools.