If most people recognize the importance of having an estate plan, why do you suppose that so many of these same people never plan?
The reason is simple: procrastination.
Creating an estate plan is one of those things that we believe we’ll “get around to someday.” Only “someday” doesn’t come for a variety of reasons.
The idea of planning for a day when we’re no longer around doesn’t exactly sound like fun and many even feel a little intimidated by all the complex “legalese.” Some of us are too busy, while others don’t think their estate is worth worrying about.
But the sad truth is, without a plan, you’re vulnerable. And by the time your mistake comes to light, it will be too late.
Dying without a plan leaves the distribution of your assets at the discretion of the courts. They’ll follow state law of course, but that doesn’t mean that your property will be distributed the way you had hoped.
If you have minor children, they’ll need a guardian and again, a judge may or may not choose the person you think is best.
A complete estate plan also includes healthcare directives to protect you and your property if you should become incapacitated.
With a proper estate plan you can protect your assets from creditors and lawsuits and even ensure that your pets are always well-cared for.
But if you never make your plan, all these important matters are left for someone else to decide.
And relying on someone else to make decisions for you is not a good plan at all.
Call 1-800-295-1917 and make an appointment with an experienced Estate Planning Attorney at the law offices of Kobrick & Moccia to discuss your estate planning options.
Latest posts by Saul Kobrick (see all)
- 529 Plans: Planning for Education with a Tax and Asset Protection Bonus - September 10, 2019
- The Importance of Communicating Your Plans - September 5, 2019
- Planning for the Unexpected - September 3, 2019