Have you made excuses for not developing an estate plan on numerous occasions? While most people are aware of the need for an estate plan, it can be easy to make excuses for putting off the process of contacting an attorney. However, it is important to schedule a consultation with an experienced Folsom, California estate planning lawyer as soon as you possibly can if you do not have an estate plan in place or your existing plan is in dire need of an update. In order to ensure that your wishes are enforceable and respected, don’t let one of these common excuses get in the way of developing an enforceable plan for the future:
Reason #1 Paying a Professional
One common reason people delay their estate plans involves the cost associated with legal guidance. However, it is important to remember that the cost of creating your estate plan is far less than what your loved ones stand to lose should you not create an estate plan to guide them. Not only may they face expensive legal fees during the probate process, you stand to create conflict within your family, which could result in a delay in the resolution of your estate. An experienced Folsom, CA estate planning lawyer can help guide you through the process of creating a plan in ways that are effective and won’t break the bank.
Reason #2 You Aren’t Wealthy
Many people do not believe that the estate planning process is relevant to them if they do not possess a certain amount of wealth. It’s a common misconception that estate plans are reserved for the wealthy. However, estate planning is truly a process that is relevant for all adults. In addition to making decisions regarding your assets, you will also need to make decisions related to guardianship of minor children, medical preferences for end-of-life care, burial preferences, etc.
Reason #3 You’re Not Sure Where to Begin
When it comes to creating an estate plan, most people don’t know the best way to initiate the process. The idea of making so many important decisions can be down right overwhelming. Although developing an estate plan is a lot to consider, it doesn’t have to feel this way. With the help of a Folsom, CA estate planning lawyer, the process can be clear, efficient and well managed.
Reason #4 Death is a Long Ways Off
No one wants to consider the prospect of their own demise. Although you may be in good health, the unexpected can occur. An estate plan can make sure that your final wishes are outlined should your family be confronted with a tragic loss.
The Risk of Not Having an Estate Plan
The lack of an estate plan can pose a variety of risks. Should you delay in taking action, you risk dying intestate. Should this occur, important decisions will turned over to a probate court and a judge will make decisions on your behalf.
Contacting a Folsom, CA estate planning lawyer to create your estate plan can provide your family with a clear road map for how you would like your final wishes carried out. A lawyer will help to draft a will, set up a trust, designate power of attorney, create a plan for your children and/or protect your rights in a number of other ways. Please consider contacting the Yee Law Group, PC today in order to begin the estate planning process.