Top Reasons Why People Eschew Estate Planning
Have you created your estate plan yet? Despite your age, your financial situation, or the value of your assets, it’s very important to have an estate plan in place for when you pass away. Understandably, this can be overwhelming to figure out on your own, but with the right help – you can have a successful estate plan for your family to follow. At SCC Legal, we’ve helped hundreds of people create a living will to make it easier on their families when the time comes – because that’s really what this is all about. In this article, we will outline the top reasons why people procrastinate on estate planning and why they shouldn’t for the sake of their loved ones.
I Don’t Know Where to Start
It can seem overwhelming or confusing to start from scratch, but when you work with an experienced estate planning attorney they’ll make the process as manageable and straightforward as possible. It usually begins with some paperwork where you list your assets and dependents, and then you go from there. One step at a time, at your own pace.
It’s Too Expensive
Everyone’s situation is unique, which is why there is no one-size-fits-all price tag when it comes to estate planning. Many people assume it will be too expensive to have a professional create their living will, so they opt for “do-it-yourself” estate plans. We always recommend working with a licensed estate planning lawyer, and if you’re concerned about cost, schedule a free consultation to get an idea of how much it will cost and if there are payment plans available.
I Don’t Have Many Assets
An estate plan isn’t only about who gets what when you pass away. Your estate plan will also dictate vital information about what happens if you become medically incapacitated, or if you’re suddenly unable to make medical and financial decisions for yourself. Your family or your close friends will appreciate having clear instructions if they ever need to step in on your behalf.
It’s Not a Big Deal
We’ve spoken with many people who say they’re planning to spend all of their money before their time comes, so why create an estate plan? However, we can’t predict the future, and accidents, injuries and illnesses happen every single day. You don’t want to leave your spouse, your children, or your extended family in a position where they’re having to make decisions about your estate while also going through an emotionally devastating time. This is singularly the most important thing you can do before you pass to make the grieving process a little bit easier for your loved ones.
Originally published at: https://www.scclegal.com/top-reasons-why-people-eschew-estate-planning/
