Many people hesitate over estate planning. Despite the fact that estate planning tools can offer stability to loved ones, this often isn’t enough for people to start making plans.
Much of the hesitancy over estate planning is brought about by misconceptions. It is important to address these so that people can at least make informed decisions. Outlined below are some of the key reasons why people delay estate planning as well as some arguments why these reasons simply don’t make sense.
Estate planning isn’t morbid
Talking about death can certainly make people feel uncomfortable. More often than not, it is seen as a morbid subject and those who bring it up are viewed in a negative light. Some people even go as far as to believe superstitions, such as talking about death makes death more likely to occur.
However, talking about death doesn’t mean that you are wishing it upon yourself or anyone else. You are simply covering all angles to ensure that your family has a more comfortable life.
Verbally expressing your wishes is not enough
People often think that because they have expressed something verbally, this will be honored. This is not necessarily the case. Your wishes are granted much more security if they are clearly outlined in legal documents. If you choose verbal means of communication, then it is more likely that someone can dispute what was said. Ultimately, this runs the risk that your wishes will not be carried out. Different estate planning tools provide the opportunity for your desires to be brought to fruition in a legally binding manner.
Estate planning can be challenging but it is certainly worthwhile. The process will run much more smoothly with the appropriate legal knowledge behind you.