Few people think of estate planning as a fun activity. In fact, most people put it off as long as possible. It’s a bit like scheduling a dentist appointment: you know you should do it, and that it’s good for you, but you end up coming up with one excuse after another not to make the call. You will do it tomorrow, you tell yourself, or maybe after the kids go on summer vacation. You will get to it eventually… just not today. There are a few common reasons why people delay estate planning.
Excuse #1: People Don’t Want to Discuss Death
This is perhaps the most common reason why people put off planning their estate. No one wants to think about leaving loved ones behind. Mortality isn’t a pleasant thought for most people. If this is holding you back, it’s important to understand that estate planning isn’t just about leaving “stuff” behind when you pass away. It’s about creating a comfortable lifestyle for your retirement years, making sure you leave a legacy behind for your family, and ensuring you have a plan in place for potential future health concerns.
Excuse #2: Estate Planning Is Complicated
Estate planning involves complex issues about real estate, assets, and tax concerns. Many people dislike delving into intricate details about income and assets. Fortunately, you don’t have to do it alone. An experienced estate planning and probate attorney can help you gather important documentation and information, so you can create a comprehensive plan that meets your goals.
Excuse #3: But I Don’t Really Need an Estate Plan Now
Many young people think they have time to plan an estate, either because they are just starting out or because they don’t have much of anything to leave behind if something happens to them. In reality, most people own more than they think. More importantly, an estate plan should include documents that appoint someone to make important health care decisions on your behalf if you become too incapacitated to handle them on your own. An accident or illness can happen to anyone regardless of age or wealth.
St. Paul Estate Planning and Probate Lawyers
Are you ready to talk about your estate plan? Call the Minnesota probate and estate planning attorneys at Jeffrey P. Scott & Associates, LLC today our office to talk about your estate planning or probate case. Our lawyers are here to help.