Estate Planning Does Not Have to Cause Anxiety
Nov. 1, 2011
As noted in a recent WSJ article, “estate planning” seems to cause anxiety in many elderly people. It does not need to be so.
Many people are put off by the time it takes to gather the information necessary to putting together a good estate plan; it is akin to gathering information to complete a refinance transaction on your house. Also, there is the expense of the estate planning lawyer.
In general, people do not like to contemplate things like the death of a loved one; or incapacity, or mental illness. Also, estate planning often involves awkward conversations with family members; some may be selected, or nominated to serve in a fiduciary capacity while others are not.
These factors should not discourage you, however, from putting together some plan. When you make an estate plan of any kind, even one from a document package you find on the Internet, you are at least retaining some control over the process.
Just about anything is better than no plan at all. Dying intestate places your estate directly into the probate process, with your assets devolving to your “heirs at law” or worse, escheating to the state if you have no heirs.
It is never too early, or too late to seek out advice for the development of your estate plan. Call us for a free legal consultation.>