Whether you’re facing a time of prosperity, uncertainty, or both, estate planning is an important part of your financial and legal future. However, the process involves major life decisions that can cause some people to procrastinate about their estate planning. Today, our attorneys discuss the common excuses we hear from folks for not creating an estate plan.
It Costs Too Much
Cost is a common concern for individuals who want to set up an estate plan. However, there are ways that you can save on estate planning costs. Plus, the price of a proper estate plan seldom exceeds the consequences of having no plan in place. Probate procedures and estate taxes can be expensive and troublesome for your loved ones.
It Takes Too Much Time
When you put an estate plan together, it does require some time and thought. But it’s a worthy investment, and our attorneys are here to help. Planning for tomorrow now can prevent future headaches for your family. Estate planning arranges a smooth transition of your assets in case the unexpected occurs.
It Will Cause a Family Feud
Some people don’t want to cause tension in the family (and rightfully so). However, family disputes can escalate when a loved one passes without an estate plan. Davidson Law Group can guide you as you contemplate your intentions. In the end, your estate plan can bring a level of certainty and alleviate hurt feelings because your loved ones will know exactly what you wanted.
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It’s Depressing to Talk About Death
It’s not fun to talk about, but sadly, death is a part of life. We tend to avoid or ignore this reality and delay unpleasant tasks. Keep your family in mind and know that you’re creating an estate plan for them. Our experienced attorneys will be glad to help you establish your Texas legacy.
I Already Made a Will
The last excuse is when people say that they already have a will. Your assets and circumstances can change over time. For example, if you own your property, your wealth has likely increased in the last decade, which means your tax exposure is different. Review and update your estate plan periodically to make sure it still reflects your wishes.
Related Post: When Should I Start Estate Planning?
Begin Your Estate Plan Today
The attorneys at Davidson Law Group are ready to discuss your plan for the future. You can get started by completing our estate planning questionnaire, then contact us to set up a free consultation. We look forward to working with you!