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Drawbacks of not engaging in estate planning outweigh benefits

On Behalf of | Nov 3, 2020 | Estate Planning

Putting off creating an estate plan is something to which many people here in California can relate. Whether they feel it’s an unpleasant task or if they simply procrastinate, not having one can have a profound impact upon their lives and the lives of those they care about. Experts say that there are several common reasons people are reluctant to engage in estate planning, but they can be overcome.

One of the most common excuses is that people think they do not have enough assets to bother with an estate plan and even when they do, they may insist that their loved ones know what to do with their possessions. However, it’s crucial to have one’s wishes legally documented. Not doing so means that a court will probably decide on that person’s behalf.

Some argue that it doesn’t matter anyway because they will have passed on and they don’t mind someone else making those choices. But an estate plan can contain directives a person may want followed while he or she is still alive, and perhaps unable to make decisions due to health. There is no denying the fact that no one lives forever, and many people may be unable to make their own health or financial choices near the ends of their lives. An estate plan can outline what people wants while they are in full control of their faculties.

For some people, they may hesitate to undertake estate planning because of the fear of expenses they’ll pay to an attorney or another professional. However, using a skilled attorney to create an estate plan is money well spent. A California attorney can help guide people through the process of estate planning to make sure it is done correctly and contains all necessary provisions. Overcoming one’s fears of the process can help offer peace of mind for the future.


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