AZ Lawyers on Most Common Reasons People Put Off Estate Planning
Most people know what estate planning is and have a vague idea of how it works. At some point, we will all pass away or become unable to care for ourselves.
The idea often gets placed on the back-burner - as people concern themselves primarily with their day-to-day jobs, finances, families, and social life.
Below are four common reasons most people put off state planning. It's crucial that you ask yourself why you put off estate planning and consider how your family can be impacted in the future.
There's not enough time
Most people are busy juggling families, careers, and other areas of life that eat up our time. However, it's important that people take the time to at least consider why they should plan an estate and who to designate as beneficiaries and an executor.
Even if you're young and healthy, anything can happen. If you don't take the time to plan, you may never get another chance. If you're married, having an estate plan may prevent legal troubles between your spouse and relatives.
Avoiding the thought of dying
Very few people actually think about their own mortality. For many, it's not a priority. Some are even frightened by the thought of it. It is inevitable, however, and there is no better time to plan than when you are young and healthy.
While estate planning may be an uncomfortable task, it can save your family a heap of legal challenges in the future. Luckily, you can change the conditions of your estate plan as you age and your health changes.
Lack of understanding
Not understanding how estate planning works is quite common and understandable. The process can be complex, but an experienced estate planning attorney can guide you through a process that may seem overwhelming and help you devise a plan that best suits your needs.
No estate to worry about
Estate planning applies to anyone who owns any kind of property. You don't have to own a house or an impressive investment profile. You could simply have a savings account, a car, or other valuable items.
Not having an estate plan can create future disputes between relatives over who will receive your assets after you pass - especially if you own a house.
If you're not sure how to get started or how the process works, it's best to consult with an experienced Arizona estate planning attorney at Brown & Jensen.
We can ensure that all paperwork is filled out correctly and all important documents are available. Having our legal team on your side can save you time and money in the long run. Contact us online today to get started.