There is no doubt that estate planning can bring up some negative feelings. Some people don’t want to think about their eventual deaths or what will happen in their futures. It makes sense, but at the same time, having the right estate plan in place can help protect them and their loved ones.
There are many excuses people make for failing to put together an estate plan early in life. Some of the most common include:
- Being too busy to get in touch with an attorney
- Not wanting to think about a future where you’re no longer alive or you’re incapacitated
- Believing that estate planning is only for the wealthy
The truth is that everyone can benefit from having an estate plan, and even if you start with just a simple will or trust, that is a protection that just about anyone can afford. Setting up an estate plan takes time, but you can start small and build upon the initial plan over time.
The first step for anyone starting to look at their estate plan is generally to create a will. At the very least, this legal document will help dictate how you want to divide your estate among your heirs. If you die without one, then the state will decide how to divide your assets.
Most people don’t want to see that happen. So, if you’re ready to move forward, consider talking to an experienced attorney about starting with a simple will. They’ll help you decide which documents you need moving forward so that you can set up a timeline for addressing your estate planning needs.