Procrastination is not an Option
When you woke up this morning, did you think about dying, and what might happen after?
If you didn't, don't feel bad; most people don't. Most of us don't start thinking about death until someone else dies, especially if it's someone our age or younger, and it hits us; we're mortal. Death is going to happen to us sooner or later. But then, the feeling passes and we get back to not thinking about it anymore.
And now you know why most people don't plan for their estate. According to statistics, fewer than half of Americans have even a simple will. There are a few other reasons besides not thinking about death, but all of them are insufficient reasons to not plan for the future.
For example, that most common reason, where you don't want to think about dying, isn't really a great excuse. In fact, it's possible to make a case that creating an estate plan means you'll be able to think less about dying, since what happens when you die will already be mapped out. And while you're in the planning stages, you mostly think about life, anyway. You think about your family and friends, what you have accomplished and what you'll want to accomplish in the future. You won't be thinking about your death so much as thinking about how to take care of your family. It also makes more sense to do it while you're healthy and not wait until you're too sick to do anything.
Another common reason people use is that they don't have the time. We use that excuse a lot when it comes to anything we don't want to do, Procrastination is an American pastime. Everyone is busy, but there are certain things everyone has to take care of, especially our families. We have to name our beneficiaries and an executor ; if you don't do that, the state will, and the likelihood of the court and you being on the same page are pretty slim.
Another very common reason people give for not creating an estate plan is because they don't understand the process, but that's why you hire an estate planning attorney. A qualified attorney who lives and breathes this stuff can help you analyze your estate and educate you with regard to the choices available.
That excuse goes hand-in-hand with the other common excuse, where people think they don't have enough assets to bother with an estate plan. However, if you own anything, you should plan for what happens to it if you pass away or become incapacitated. If you "only" own a car and a home, not having a plan in place could create problems. Even if all you do is create a will, you could prevent your family from dealing with the living hell of the probate process.
Besides, an estate plan doesn't just have to do with what happens to your stuff if you die. What happens and who gets to make decisions if you become incapacitated?
Talk to an estate planning attorney soon, if you haven't already. Procrastination is not an option.
