You probably understand that having an estate plan is very important, but like most people, you likely think you’ll get to it…eventually. It is normal to have some reservations about estate planning. Below are some of the most common reasons we hear for why our clients have procrastinated in creating their estate plan:
- Fear of death. None of us like to think about dying. It can be uncomfortable to talk about appointing guardians, personal representatives or trustee. Your loved ones can feel awkward telling you what assets they would like to inherit from you. There is no correct way for having these discussions. As we conduct these types of discussions with clients, it is not unusual for clients to get emotional thinking about the event of death. You should use the approach that works best for you. Just remember that it is better to feel a little uncomfortable but to protect your loved ones and leave them feeling like you cared enough to plan for them, than to leave them resentful that you didn’t take care of matters while you were alive.
- Fear of emotional upheaval. It can be difficult to deal with highly emotional and stressful situations, especially if you have strained relations with your family members. If you have different goals for your estate plan than your loved ones have, it can cause emotions and tensions to flare. Being forthright with your intentions can allow you to explain what you are trying to accomplish. It also gives you the opportunity to listen to how your loved ones feel. Even if you cannot reach a complete agreement, at least everyone knows where they stand and they are not left wondering. Whether or not to talk to family about your intentions depends on the circumstances. An experienced estate planning attorney can counsel with you on the best approach.
- Fear of losing control over finances. Some individuals incorrectly believe that they will lose control over their financial security by creating an estate plan. We can help you develop an estate plan that not only makes you feel comfortable with your financial future, but that actually makes you feel more secure. In fact, creating a good estate plan keeps you in control. Instead of a judge deciding who controls your property and assets if you become incapacitated, you get to choose. That keeps you in control.
If you are procrastinating creating an estate plan, don’t delay any longer. Schedule your initial consultation to learn your options and let us eliminate your fears. All of our clients admit that they should have come to see us earlier and that they are relieved that they finally did! We have never had a client feel badly that they completed their estate plan. It is always a big relief, and they are pleased with the process.
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.