Common Reasons People Procrastinate Estate Planning
There are many tasks people have to complete every day. They have to go to work, take care of their children, prepare meals, and more. While people may talk about what happens while they are performing these tasks, they rarely talk about actually doing them. This is because they are non-negotiable, essential tasks.
However, there are many tasks people talk about doing yet they never do. Estate planning is one of these. While many people talk about drafting a will, establishing a health care proxy, and more, so many have yet to complete these tasks. Below are some of the most common reasons people procrastinate this important task, and why you should not wait to create your plan today.
Talking About Death is Uncomfortable
It is true that no one wants to talk about death. It can help if you view estate planning as not talking about death but rather, focusing on life. After you draft a will, it takes effect upon your death and affects the lives of your surviving loved ones. If you do not draft your will and other important estate planning documents, your loved ones could be left struggling to settle your estate. Family feuds could be rekindled and lawsuits may even be filed. Malfeasance or mismanagement can also reduce the value of the assets in your estate.
Additionally, there are other estate planning documents that affect you throughout your lifetime. A health care proxy can make medical decisions on your behalf, if necessary, and a durable power of attorney can manage your finances if you are ever unable to.
I Do Not Have Time to Meet an Attorney
Meeting with a Daytona Beach estate planning attorney does not take as much time as you think, even if your estate is very complex. Estate planning can take anywhere from just an hour or two to several hours. However, the return of a comprehensive estate plan far outweighs the amount of time it takes to create it. Additionally, sometimes anticipating something is more stressful than actually doing it. After you make the decision to meet with an attorney, you will not have to do it for some time and can stop worrying about it.
I Do Not Have Substantial Assets
You do not need a large estate to plan for it. Even if you only own a vehicle, bank account, or a life insurance policy, you should still plan for it to provide a clear roadmap for your family after you are gone. Estate planning also entails more than just distributing your assets. You can also name a guardian for your minor children, designate a healthcare proxy to make medical decisions on your behalf, or name a power of attorney to make financial decisions in the event that you cannot make them on your own.
Call Our Estate Planning Lawyer in Daytona Beach for Help with Your Case
There are many reasons to procrastinate estate planning, but there is one important reason to create one today – your family. At Bundza & Rodriguez, our Daytona Beach estate planning lawyer can help you create a plan that will protect you and your loved ones now and in the future. Call us today at 386-252-5170 or contact us online to schedule a consultation and to get the legal advice you need.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html
