There are common misconceptions about the need to formulate an estate plan. The following are the common misconceptions we see that can lead to trouble for our clients.
I Don’t Have Much Money
Estate planning is more than the transfer of money. Estate planning is about protections, beneficiaries and the transfer of your items. An estate is made up of a lot of things and money is only one part. We can help you understand that no matter how much money you have, estate planning is extremely important.
I Don’t Have Many Possessions
It isn’t about the amount of possessions you have; it is how they are transferred or disposed. The biggest challenge within an estate are the tangible assets, ones you cannot divide easily. Family disputes primarily arise over the transfer of tangible assets and estate planning is the only way to alleviate the issues.
My Family Gets Along
While people may act civil in everyday life, people change when it comes to the subject of money. Those who seemingly get along seem to have an opinion over the transfer of an estate. Even the simplest items within the estate can cause a family issues. Estate planning will provide clarity so that they continue to get along.
I Only Have Pass On Death Assets
Certainly pass on death assets are the least expensive and easiest to transfer. However, you would be surprised what has value to others and what cannot be passed on death. Autos are a prime example. Having an inadequate estate plan can subject your loved ones to probate court and months of problems, all to transfer something simple that an estate plan could have helped with .
I Can Get My Basics From Online Templates
We can all change an engine in a car too. However, we will never know if it works until that moment comes. This is the exact reason why we have professionals help us with certain things. If you are not a lawyer or a financial advisor, it is probably best that you do not try this at home. One could only imagine the mess you may leave your family with an online template or a Legal Zoom or as I call it, "Legal Doom" document.
Stop making excuses. Let us help you today.