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The 3 big reasons people avoid estate planning (and why you should anyway)

On Behalf of | Sep 28, 2021 | Estate Planning |

Experts believe at least half of American adults do not have any estate planning done, not even a will. When asked why not, people give various excuses. But these are the three most common reasons people have for avoiding estate planning:

  • I’m too busy
  • Estate planning is too complicated
  • I don’t like to talk or think about death

These concerns are understandable. At the same time, this type of thinking can cost your family a lot of time, money and heartache if you were to pass away suddenly without a plan in place (legally known as dying intestate). Here are common-sense responses to these fears.

Estate planning doesn’t have to take a long time

Working with an experienced estate planning attorney speeds up the process considerably. Meanwhile, there are things you can do on your own, like organizing your online passwords to your social media, bank accounts and other important information, and putting them in a place where your loved ones can find them. Things like this don’t take much time but will be a huge help after you are gone.

Estate planning is not confusing — with the right help

Again, enlisting the help of an attorney is helpful. You and your lawyer will discuss your goals for your estate plan and what documents you need to accomplish those aims. By giving you clear answers to your questions, your attorney should clear up any confusion you have. They will also draft the documents for you to ensure they are complete and correctly done.

Talking about death can make it happen

Death is unpredictable. Even if you are relatively young and in good health, you might live for another 50 years or die young from a sudden accident or illness. But estate planning will not cause you to die any sooner. Acknowledging that you won’t be around forever — and preparing for that fact — is just facing reality.