We all do it. Procrastinate. How many times do we start to-do lists, then forget about them? Sometimes it just seems easier to make excuses than to act. Excuse-making is pretty common when it comes time to think about estate planning. Talking about death is not a comfortable thing, but it IS important to your future and present peace of mind. Some excuses actually keep people from making decisions that may impact their lives in a deep way. Let’s look at some of the common estate planning excuses:
My Options For Estate Planning Is Too Small
Estates of all sizes benefit from well-drafted estate planning documents.
Keep in mind that your Will and other Estate Plan documents do more than just distribute your stuff to your loved ones:
- You may protect your family from a lengthy probate.
- If you have minor children, you can choose who will care for them.
- In some cases, you can reduce your estate’s potential tax bill.
- You get to pick executors, agents, or personal representatives.
Some estate plan documents have little to do with your property, so the value of your estate may not matter. However, putting these documents in place gives you a voice, lets you to keep some control over your life, and protects your loved ones. Can’t get much better than that!
I Don’t Like Talking About Death – What Are My Options?
No one really likes to talk about dying.
So, we can talk about life instead.
It’s true. Your Last Will and Testament takes effect after your death. However, your Will also affects the lives of your heirs. By not leaving up-to-date plans, you are leaving your family vulnerable. They may have to hire one or more attorneys to represent their interests. Feuds between family members may start. Sometimes lawsuits are filed. The value of estate assets may decrease because of mismanagement or malfeasance.
Other documents affect you during your lifetime. For example, a durable power of attorney authorizes a personal representative or agent to represent your financial interests. In a medical power of attorney, you can name someone to make medical decisions for you if necessary. Are you a business owner? Then buy-sell agreements may keep the company operating if you become incapacitated or retire.
I Don’t Have Time To Worry About My Estate Planning Options
Even if your estate seems complicated, consulting with an estate planning lawyer should take just a few hours. Any time you invest in estate planning yields a great return: your family will benefit from the guidance you provided in your estate plan.
Often, anticipating something is more stressful than doing it. Call today to make an appointment with one of our attorneys. Then add the appointment to your calendar. No worries.
There Are More Important Things To Do Right Now
You probably do have a lot of things going on. But here are some things that estate planning does:
- A good plan guides your family.
- You can spare your family from having to make painful decisions on your behalf.
- Estate plans may reduce costs and legal fees incurred when settling an estate.
- You may be able to protect your family tomorrow by protecting your assets today.
Developing an estate plan is one of the most important things you can do. Anyone over 18 years of age who owns anything or wants their voice to be heard in the event of sudden critical illness needs an estate plan.
You can find many options and excuses to avoid your estate planning. The best reason to finally do it? Your family.
At Keystone Law, our attorneys assist people with their estate planning every day. Call us at (480) 418-8448. We offer services for clients throughout Arizona, including Chandler, Gilbert, Sun Lakes, Tempe, Phoenix, Mesa, Scottsdale, and Apache Junction.