Injury In Idaho

Top Misconceptions About Estate Planning

Wrongful Death Lawyer

According to an estate lawyer with our friends at W.B. Moore Law, it is a common feeling to be spooked by the concept of estate planning. It is something that is often surrounded by the loss of a loved one or planning the loss of them. As sad as it is, death is a part of life. It is all too common for people to make up excuses as to why they don’t want to go into estate planning. However, the unexpected can easily happen, and your family can have further issues with your assets after your death, as our own wrongful death lawyer well knows.

However, the truth is estate planning doesn’t have to be scary at all. At the core, it is about setting up a trust or a will that sets the rules in place to protect your loved ones. It is also the only surefire way to protect and pass on the legacy that you’ve built.

Take a look below to see if you are falling for one of the top misconceptions about estate planning. 

  • It is Time Consuming 

The media has portrayed the estate planning process as this long and painstaking process. While this used to be true, considering everything was done by hand and there were no computers, that has changed. Technology has been able to save people time and make it a rather quick process. There is time you do have to invest, like gathering the documents to set everything up. There are ways you can even do it from your own home now. 

  • Estate Planning is Expensive 

Yes, it can be but it doesn’t have to be. If you want to hire a top-rate lawyer that charges the big bucks, then you could rack up a big bill. However, this doesn’t have to be the case. You don’t have to be fancy with your estate planning. It could be very simple and in the long run, it makes it so you don’t have to worry about the price. Yes, at one point it was expensive but now it is more affordable so everyone gets the chance to protect themselves after they pass. 

  • You’re Young and Healthy so it Can Wait 

Many young people fall into this misconception. The whole point of estate planning is to have a protection measure in place for you and your family in case the unexpected happens. It happens too often that people put off making one because what could really happen? The sad truth is, you never know what can happen. If you wait too long you may find yourself in your eighties without a plan and that could be costly. 

  • Only The Wealthy Need Estate Plans 

Yes, the protection and division of assets are a large part of estate planning, but there are many other things it does. It is there to protect your wishes should anything happen to you. If you were to become incapacitated who would be in charge of making sure you get what you need? You get a say in what you want your end-of-life process to be too. There are many small details that are a part of estate planning that everyone needs to know.

If you need help with your estate planning, contact an estate lawyer near you for help.

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