Why You Should Plan Your Estate Instead of Making Excuses

Many people find reasons to avoid planning their estate, but failing to prepare any documents related to estate planning can leave your loved ones in a state of turmoil and confusion after you pass away.

Even if you feel you don’t need estate planning documents, are too young to do it now, signed a will many years ago, or prepared one yourself online, planning your estate documents with the help of Edmonton estate lawyers is highly recommended.

Here are some reasons why you should avoid making the following excuses:

I don’t need estate planning documents.

This excuse can lead to your loved ones or other beneficiaries not receiving the property that you intend for them, or it could result in other people receiving property you wouldn’t have ordinarily wanted them to receive.

It can also lead to extra taxes, fees, delays, and even disputes, and it’s important to recognize that the probate process can be far more expensive than undertaking estate planning with legal help.

It’s also worth remembering that estate planning is about so much more than just asset distribution in the event of your death. It often addresses important issues like healthcare decisions and who will make them for you should you not be able to make them yourself.

I’m too young and healthy to make a will.

Unfortunately, accidents and illnesses can happen without warning and at any time during a person’s life. Not being prepared with a will and trust can hugely complicate matters. The longer you wait to plan your estate, the greater the risk of not doing it at all. Alternatively, waiting for the ‘right’ time may mean that if you become mentally incapacitated for any reason, you won’t be able to do complete it.

In addition, waiting until the last minute or the ‘right’ time to plan your estate might mean that you miss out on available tax-saving strategies, aren’t able to avoid probate, and can’t take care of your beneficiaries in the way you would have liked.

I planned my estate online.

While it is true to say that any form of estate planning is better than nothing, it’s not uncommon for errors to creep in and for problems to occur when people try and prepare their estate-planning documents online. What often happens is that without a deep understanding of the complexities surrounding estate planning, people make mistakes that can jeopardize their wishes in terms of property ownership.

I signed a will many years ago.

Regarding your overall life and financial planning, estate planning should form a significant part of it. After all, if you invest in something, you shouldn’t simply overlook it for decades. Things change, and you may want to sell or cash in your investment. In much the same way, estate planning should be something that you periodically review, especially if circumstances surrounding your health or wealth have changed.

If you haven’t already planned your estate documents or reviewed them in a good many years, meeting with estate planning lawyers is highly advisable. Excuses are easy to make, but when it comes to something as important as planning your estate, delaying may complicate matters and result in a will that doesn’t reflect your wishes.

I am a passionate freelance writer and dedicated blogger with a deep love for the written word. With 10 years of experience in the world of writing, I have honed my craft to craft engaging, informative, and thought-provoking content.