Why Don’t People Plan Their Estates
No matter how big or small your estate is, you probably know that you should have a plan in place.
Do you have a plan? If you don’t, you are not alone. About 95% of people would like their property to go to another person. However, only 35% of people have a will and only 21% have a living trust.
Did you know that the majority of Americans have nothing in place? Not even a will. This is one of the biggest problems today. What would happen to these your estates once you die?
Let’s say you have a living trust?
Has that living trust been reviewed in the past couple of years? There has been major law changes in recent years, which have rendered many plans ineffective and could end up costing your children and surviving spouse a huge headache.
While estate planning should be a smooth process that takes less than a couple weeks, unfortunately, many do not have a plan.
Well, the first reason is actually quite obvious.
People think that nothing will happen to them in the near future. So why plan? No one wants to talk about these very important issues. No one wants to talk about incapacity. No one wants to discuss their inevitable demise.
Others feel that they for sure have 5 or 10 more years to live. Why do they need to do this now?
I hate to be the bearer of bad news, but NO ONE KNOWS.
There is a point of no return if you don’t have a plan. Once it is too late, you are stuck with going to Court, paying tons of money, and wasting your time. We’re not even talking about death. We are talking about incapacity.
Let’s say one day you get into a skiing accident? A car wreck? An injury at work? Are you and your family protected? Are they safe?
Don’t let procrastination hold you back from planning your estate. Discover how you can get it done seamlessly by scheduling a strategy session today.
#2 The second reason is lack of knowledge.
The internet has a lot of misinformation and a lot of problems, which only adds to the already present confusion. People are just not served the right information. A 2015 study revealed that 95% of people said that the reason why they don’t plan well is because of lack of knowledge and lack of proper financial tools.
Get educated today. There is a treasure trove of proper information out there. Make sure it’s from a good source.
What Are My Estate Planning Options?
So, what are the solutions to this? What can you do?
The first solution to this problem is that you could continue living as you do. Burying your head in the sand and not knowing what is going on. Why?
Well, the law knows that people don’t plan, and they have a plan for them. The plan might be a public government plan, which although you might not want it, is there nonetheless. That is one solution.
Another solution is to go to a reputable law firm in your community. Find someone who knows what they are saying and doing and get the plan done. After that you don’t have to worry about it anymore.
YOUR NEXT STEP
Your next step is to stop procrastinating and schedule a strategy session with me today! With the help of technology, the process is seamless and quite enjoyable.