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Don’t let hesitancy get in the way of estate planning

On Behalf of | Jul 13, 2022 | Estate Planning |

Estate planning is extremely important, yet some studies show that over 50% of the population has yet to draft a will. Why are so many people hesitant about addressing the subject?

Part of the problem stems from individuals not having access to accurate information about estate planning. For instance, while estate planning does largely involve conversations about what happens if you die, there is much more to it than that.

Is estate planning really that important?

We all have people in our lives whom we care for deeply. Perhaps you make a special effort to look after young or vulnerable family members. The sad reality is that this will come to an end if you pass away. Nonetheless, an estate plan provides you with an opportunity to ensure that they are still looked after.

A will lets you pass on money and other assets to those you are close to, which can help give them a sense of financial stability. Estate planning instruments also allow you to name a suitable guardian. This means that a child or other dependent person can continue to be cared for once you are gone.

Try not to be overwhelmed

Sure, there are many different tools that can make up an estate plan. You may feel overwhelmed when attempting to understand all of these. However, this is not necessary. By obtaining suitable legal guidance, you can focus on what your final wishes are rather than the nuances of the law.

After creating a watertight estate plan you are likely to feel much better moving forward. You also have the option to adapt it as your circumstances change.

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