Estate Planning Myths That You Should Know The Truth About

Many people have misunderstandings and misconceptions about estate planning, and typically everything else about probate and court proceedings. People may believe that every situation calls for probate court to be avoided. However, every person’s situation is different and an estate planning lawyer will be able to help you determine what things you need to do to meet all of your goals.

Many people do not create an estate plan because of a circulation of myths that frustrate and confuse people. If people are unaware of the truth, these myths will continue to circulate and this can be harmful to one’s life and the future of those they leave behind:

An Estate Plan Is Only For People Who Are Wealthy

This is not true. This is probably one of the common myths that gets spread around. By certain standards, it may seem that only a “rich” person only has to put together an estate plan. However, when you think about all of the things you have, such as your home, your checking accounts, savings account, vehicles, life insurance policies, etc, you will begin to realize that you may have more assets and possessions than you realized.

Estate planning is about more than saving on taxes; it is about having control of your wealth and having protection of your needs and your family’s needs when it counts the most.

All I Need Is A Will

If you put together a quick will, then that will be better than not having a will at all. On the other hand, you may not even need a quick all. The state that you live in will have a plan in place for you. However, that plan will probably not be the plan you want. If you want things done correctly, you have to make sure you take the right steps to do it correctly. If you are going to do something, you should do it right. This applies to anything that you do in life. When you want the best estate planning documents, you have to spend a significant amount of time on it.

I Don’t Have To Worry About It Yet

Generally people think that their age means they should not consider estate planning. It does not matter if you are in your 20s or in your 60s. We all know that the unexpected can occur at any age. Death does not have an age on it. In case of unexpected tragedies, an estate plan can be extremely useful even if you are still young. An estate plan is about more than death. If you are ever faced with an unexpected stay in the hospital, your plan will include various documents that will be beneficial in cases like this, such as a HIPAA Authorization and a healthcare directive.

We have a goal to provide our clients with plans that work best for them. You want to be able to control your things while you are still here. Contact us when you are ready to take control of your life so you can provide your family with the things the need even when you are no longer here.