KW – estate planning
If you don’t contain an estate map, you are not the only one. Most people don’t look at their To-Do list when they wake up and see “Create Estate Plan” at the top. Most of the time, it takes a significant event in our lives to make us realize how vital such a document is. It’s common for these events to happen: Marriage, having a child or grandchild born, getting divorced, or dying. These events make us think about how important time is. So let’s know Why you must do estate planning without any delay.
Why do most of us not plan our estates?
1. You don’t have enough time –
You are swamped. Between work and home life, our lives are entire. Isn’t it easy to put this task at the bottom of our list? As it turns out, there are just some things that you have to take time to do, and estate planning is one of them. A must is to name beneficiaries and pick an executor.
2. You don’t desire to think concerning last –
Many people don’t do any estate planning because they don’t think it’s worth the time and money. Nobody likes to think about their death, but they will all die one day. Why not do it while you are still healthy, then? Estate planning can make you think in new ways. You’ll have to think about who will get your money, how that money will be spent, and where you want to be buried.
3. Don’t get it –
You need to find a financial planner or an estate planning lawyer who can look at your finances and help you figure out what you want to do. It doesn’t matter if you don’t have enough money to set up a complicated trust. You still need a will with some essential things in it. Make sure you get a good education before you do anything else.
4. You don’t think they have a lot of money –
Some of you may think you don’t have enough money to think about estate planning, but that’s not the case. It’s close to 11 million dollars right now. Almost no one has this much money, so they think they don’t have a big house.
So, don’t be one of those who make such a mistake and never do estate planning. This is a big mistake. First, having a car, a home, or even life insurance can be part of your estate. I tell my clients to think of their loved ones as part of their “estate.” In what way would you like them to live their lives? Second, if this money is meant to be passed down to your grandchildren, how can they use that money to remember you and your values? Third, if you don’t have a will or a named beneficiary, the probate process could be a living hell for your family and friends.