It is critical for each adult to consider his or her future legal and financial interests, regardless of age, income level or state of health. Planning for the future is an important step for virtually all adults, yet many adults delay the estate planning process. However, the health concerns of the past few years have propelled many to think about their future and address the misconceptions that may have prevented them from moving forward with this process sooner.
Common misunderstandings about future plans
The reasons why people delay the estate planning process can range from financial concerns to simply not considering it a pressing issue. Planning for the future is a deeply personal matter, and it can make some uncomfortable to confront their own mortality or possible future incapacitation. Common misconceptions about estate planning include:
- It is only for individuals with significant wealth or large estates.
- It is daunting and complicated.
- It will cost a significant amount of time and money.
Estate planning is critical for all adults. And while each estate is different, it is possible to create a plan that allows one to have confidence in his or her future without exorbitant costs or unnecessary complications.
Make the process easier
The assistance of an experienced estate law attorney can make the estate planning process significantly easier. An assessment of one’s estate and individual concerns can provide insight regarding the specific steps that will be necessary to create a complete plan. As life is unpredictable, it is prudent to move forward with this process as soon as possible.