Estate Planning Vault

What's Holding You Back?

You have the best intentions. You don’t want to saddle your loved ones with a potentially troublesome, divisive estate to settle once you’re gone. So why haven’t you developed an estate plan?

Don’t let these common hindrances interfere with creating your plan:

• Tomorrow. While you might believe you will always have time to plan, in reality, one should address estate planning early. No one knows what the future holds. Additionally, legal documents must be executed while you have the mental capacity to understand their meaning. Just making an appointment with an estate planning professional is overcoming a major hurdle.
  
  
• Unknowns. Even if you don’t know exactly how you want your assets to be distributed or to whom, plow forward. Your estate planning attorney will likely be able to help you sort through some options and give you insight regarding the impact of certain decisions.
  
  
• Endless Possibilities. It’s impractical to consider every possible event that might occur, so your estate plan cannot realistically cover endless possibilities. However, your attorney can build flexibility into your plan to address many scenarios, and should circumstances change, you will probably be able to change your plan.

Source: www.JournalNow.com, 11-12-06