Reasons Why People Often Delay their Florida Estate Plan
It’s understandable that you don’t want to think about your own mortality, but you need to consider it—at least where your estate plan is concerned. Facing the realization of death can seem scary, but preparing for something that will inevitably happen is important. Be prepared with a proper estate plan in place, as this allows you to decide now how you want your assets to be distributed to loved ones.
Having an estate plan can also help you designate guardians for your children in case you should pass away while they are still minors. Contacting a West Palm Beach estate planning and probate attorney now is the first step to ensuring your wishes are carried out when you do eventually pass away.
Here’s a look at some of the reasons why people often delay their Florida estate plan.
Some People Just Don’t Have the Time
This is not really a valid reason for not creating an estate plan. Everyone is busy, but you have to make time for something as important as this. You wouldn’t delay getting a much-needed heart surgery, so don’t delay your estate plan either. At a minimum, you need to make sure you have beneficiaries and a personal representative named.
They Don’t Understand the Process
If you are married, you may assume everything goes to your spouse already, but that is not necessarily the case. What if you aren’t married or you have children from multiple marriages? This can be a valid reason for putting off estate planning for a short while, but not forever. This is why you need a good West Palm Beach estate planning attorney.
They Think They Don’t Have any Assets to Worry About
You may think that estate planning is only for wealthy or established people who already own something. That is not true at all. Anyone who owns anything at all pretty much has an estate. If you own a car, what would you want done with it when you die? What about plans to buy a house later on? You can name beneficiaries and update your will as time passes and you acquire new assets, or if your situation changes and you now have children.
They Figure It Will be Someone Else’s Problem Anyway
Estate planning is useful for more situations rather than just your death. It can be an important tool if you are incapacitated and need assistance with your care and finances. In this case, you are still alive, and that could present problems if you don’t have a proper plan in place. Your family members will need to go to court to gain control of your finances so they can take care of you. This can result in added legal fees that could’ve been avoided by having a proper estate plan in place.
Contact a West Palm Beach Estate Planning Attorney Today
When you meet with an estate planning attorney, he or she will do their best to make you feel comfortable and help you decide on the best way to protect your estate. If you need assistance with your estate plan, contact the Law Offices of Larry E. Bray, P.A. today to schedule an initial consultation with a skilled West Palm Beach estate planning attorney.