Business News

Top 5 Reasons Not to Have an Estate Plan

Tika 

We often hear many reasons why people do not have an estate plan or why they are putting off creating their estate plan.

We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe to our blog ).

Here are the top five reasons why people don’t have an estate plan (and why these reasons shouldn’t prevent you from doing your estate plan today):

  1. I don’t have enough money, property, etc. Estate planning is not just about assets. Estate planning is a way to protect your wishes, in the event of incapacity. If you have young children, estate planning allows you to choose their guardian, something should happen to you. Estate planning also allows you to direct medical and financial care, should you become incapacitated. Further, most people have more assets than they realize. Estate planning is for everyone, no matter the size of your estate.
  2. I’m too young, I’ll worry about it later. We hear this often. Unfortunately, life can change in an instant. No matter how old you are, you could be involved in an accident or have an unexpected health issue. It is essential to get documents in place to protect you. While your documents may change over time, having foundational documents in place will help you later on.
  3. I’m scared to talk about it. We understand. Talking about incapacity and death is not fun. However, once your estate planning is done, it will give you incredible peace of mind. It also allows you the ability to think about it and have documents in place before an emergency occurs. We help our clients have the difficult conversations and put their minds at ease with tailored solutions to their matters.
  4. I did it online. Online estate planning can lead to a lot of issues. Online documents may not be the correct documents for your state or situation. They might not be legal, if they are for a different state and may fail to have the appropriate language. They are also not likely tailored enough to help best protect your interests and your assets. Online estate planning can lead to lengthy and expensive probate battles.
  5. It’s too expensive. We know that estate planning comes with an upfront cost. However, this cost is much less than if your estate has to go through probate. It also allows you to make a plan for your assets, instead of letting the state decide where your assets go upon your death. Estate planning also provides you peace of mind by letting you decide who will get to make financial and healthcare decisions on your behalf. Good estate planning will help you protect your assets in regards to tax liability, future disputes and probate court costs. Upfront planning can save money in the long run.

None of the above reasons should keep you from completing your estate plan. It is always better to do an estate plan now, and update it in the future if need be.

We can help you determine what documents are best suited for your situation and help you get tailored language in place to protect you, your wishes, your family, and your assets.

If you need help deciding if you need an estate plan, contact us today!

Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.

We publish vital information every Wednesday and Friday. To get this important information delivered directly to your mailbox,

Contact us today with all your legal needs!

Recommended Posts

Notizie Sportive E Risultati Reside Di Oggi

Antonio Rudiger appeared to tell Andriy Lunin which way Mateo Kovacic would ship his penalty earlier than the goalkeeper made an important save to assist Real Madrid beat Manchester City on Wednesday night. In the ninety fifth minute, Saka passed a free kick quickly to Ben White instead of capturing or crossing into the field, […]

Tika 

The Ten Best Photography Books Of 2022 Arts & Culture

This characteristic is unique to photography and sets it other than different methods of image making. The seemingly computerized recording of an image by pictures has given the method a sense of authenticity shared by no different picture-making approach. The photograph possesses, within the in style mind, such apparent accuracy that the adage “the camera […]

Tika 

35 Best Beauty Merchandise Of 2022, In Accordance With Vogue Editors

She added that Thai consumers’ experimental attitudes in direction of beauty makes it extra probably for Thailand to turn into a “striking point”​ for the delivery of latest developments. “We assume that the Thai cosmetics business is going to turn out to be the subsequent chief over the next 10 years. Over the previous 10 […]

Tika