Top 10 Excuses for Failure to Plan One's Estate
Most folks never get around to doing any estate planning, even so much as a simple will. Why?
- I'll do it later, when I'm "older."
- It costs too much.
- I don't like lawyers.
- I don't have time.
- It's too complicated.
- I don't have enough assets to worry about.
- I don't know whom to name as executor of my estate
- I don't know whom to name as guardian for my kids.
- I don't know how to find a good estate planning attorney.
- I don't care.
My responses, bluntly:
- What happens if you never get "older."
- Compared to what? The mess that will result from failure to plan?
- Then you haven't found the right one.
- Make time. It's that important.
- Yes, sometimes, but a good estate planning attorney will be patient and provide explanations.
- Even if you own nothing, don't you care who will make decisions for you if you become incapacitated?
- Okay, the state will name one.
- Same as above.
- Ask friends, neighbors, colleagues, etc. Check credentials and compare attorneys on the web.
- Then, my friend, you've truly stumped me.
