Most everyone agrees that having an estate plan is extremely important, yet it seems everyone wants to put off doing it. While there are a variety of excuses for why people procrastinate their estate planning even though they acknowledge it could save them significant amounts of money and protect their loved ones, below are three of the most common reasons we hear:
- Fear of dying. Nobody enjoys thinking or talking about dying. The topics you must cover in creating an estate plan – from personal finances to the appointment of guardians for your minor children – can be uncomfortable and feel awkward. How to you get past this? Start with something that you feel comfortable with and go from there. This may include scheduling a family meeting, discussing your ideas with loved ones individually, or simply making an appointment with us to learn more. You don’t have to tackle it all at once. Let us help you take it one step at a time.
- Emotional upheaval. If your family relationships are strained, the estate planning process can feel stressful. However, if you fail to take action while you are alive to handle matters on your own terms, it can cause even further damage to your loved ones. If you are open and honest with your family members now, it will help them understand your point of view. It also gives you the opportunity to hear what your loved ones have to say and make them feel understood. In short, if everyone knows your true wishes before you are gone, it will prevent disputes from occurring after you are gone.
- Fear of losing control over your finances. Many people wrongly believe that they will lose control over their financial security by creating an estate plan. They fear that by placing assets in a trust or gifting away property, they will put their financial future in jeopardy. However, our seasoned estate planning attorneys work hard to create an estate plan that is tailored to fit your needs. We ensure that you are comfortable with your ability to continue to control your finances while also protecting your loved one’s future. We always strive to help you maintain control over your estate and property.
If creating an estate plan is a New Year’s resolution that you haven’t kept yet, maybe it is time to stop procrasting. Take one simple step and contact us to schedule an initial consultation today.
The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.