Even though you understand the importance of creating an estate plan, it may be something you continually put off.
While there’s no legal requirement to create an estate plan, neglecting to do so puts you, your family, and your finances at risk. And that’s not something that most people want to do.
Here’s the good thing: once you know why you’re putting off estate planning it’s easier to devise a plan for taking action in the immediate future.
Here are some of the most common reasons for this:
- You don’t think you need an estate plan: For example, if you’re young and healthy, it’s easy to believe that you’ll have time to create an estate plan at some point in the future. And while you may be right, you never know what the future will bring. You need to protect yourself as soon as possible.
- You don’t know what you’re doing: You want to create an estate plan, but you’re unsure of where to start. What’s the difference between a will and trust? Do I need a power of attorney? Who should I name as my beneficiary? These are the types of questions you need to answer, all of which can cause confusion.
- You’re afraid that it’ll cost too much: Yes, you’ll pay to create an estate plan with the help of an attorney, but don’t look at it as an expense. This is an investment in your future. Not to mention the fact that it’ll give you peace of mind.
Regardless of the reason for putting off estate planning, you can change your ways in the immediate future. And once you do, you’ll feel much better.
Contact our law firm if you’re seeking assistance with estate planning. We’ll make sure that you take the necessary action at the right time.