Certainly estate planning is not a pleasant subject
. No one likes to consider what life will be like for their family when they die. We discuss some of the most frequently heard excuses in putting off estate planning.
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Certainly estate planning is not a pleasant subject. No one likes to consider what life will be like for their family when they die. Some of the often used excuses for avoiding estate planning:
1.I dont have the time
Using an estate planning attorney can help save you time in getting this task accomplished. Trying to go it alone in estate planning can be time consuming - researching laws, searching the internet for information that may or may not be correct and preparing forms on your own is not necessary. Work with a professional to get it accomplished quickly and with the best results.
2.I cant decide who to appoint as a guardian for my children.
Parents with children should make creating a will a priority it is the only way to name a guardian for their children. Should the unthinkable occur, and the children are left without their parents, without a will naming the guardian, that decision will be left to a probate judge. While certainly any evidence of your wishes will be considered, along with the best interests of the children, wouldnt you rather document your decision to keep this from happening?
3.I dont have enough of an estate to do any estate planning.
Even modest estates can benefit from estate planning. Even if you have limited assets, at the very least you should create a will and have an advance medical directive in place.
4.Im young enough that I dont need an estate plan yet.
Every adult should have an estate plan, even if its just a will to name an executor for their estate or a guardian for children. They should also have a durable power of attorney and an Advance Directive for Healthcare that names a representative to handle healthcare decisions should they become incapacitated.
Estate planning may not be at the top of your to-do list this week, but consider the consequences of continuing to delay the task. An estate planning lawyer can help make this process much less burdensome for you and your loved ones.