They pop up when we least expect it – excuses. We know we need to do something, but put it off day after day. To-do lists get so long we become intimidated, then decide to chuck it all and go fishing. After all, it’s easier to do something we enjoy than something that’s necessary but not fun. When it comes to estate planning, though, it’s critical to learn how to overcome some common estate planning excuses.
I don’t need a Will.
Some of us feel we don’t have a big estate or don’t have a complicated enough life to warrant signing a Will. If you are over age 18 and own anything, even a small bank account or a collection of baseball cards, you need a Will.
And estate planning is not just about the Will.
There are other documents involved, documents that affect you in the here and now. Through a durable power of attorney, you can authorize a trusted agent to act on your behalf if necessary. Your medical power of attorney provides for necessary communication between your trusted agent and medical providers if you are not able to speak for yourself. Other documents you may need include an advanced directive, trusts, and business succession plans.
Wills provide guidance to your family and representatives. So, even if you think you don’t need a Will, remember that your family does.
I don’t like to think about death.
Most people don’t.
So, think about life instead.
Even though your Last Will and Testament takes effect after you pass away, your family’s lives will be affected by your Will. Thoughtful estate planning provides structure and guidance to their grieving process. Your valid, well-crafted Will could prevent family feuds, depreciation of estate assets due to a lengthy probate, and high legal and accounting fees.
Think about your property. Your business. Your family. They need you to overcome this excuse.
I don’t have time to meet with an estate planning attorney.
Even if you have a complicated estate requiring advanced estate planning strategies, meeting with an attorney should only take a few hours out of your life. Think of it as an investment with a great return – your family’s happiness and financial wellbeing.
Sometimes anticipating something is more stressful than just doing it. Contact an attorney today and add an appointment to your calendar.
Overcome those excuses!
Many people feel a great sense of relief and peace after putting together their estate plans. Push past the excuses that stand between you and a well-crafted estate plan.
At Virtus Law, we know it can be difficult to talk about estate planning. To schedule an appointment with one of our estate planning attorneys, contact us at 612.888.1000 or send an email to info@virtuslaw.com. Our main office is in Minneapolis, but we serve other communities like Edina, Mendota Heights, and Red Wing.