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Why don’t some people make an estate plan?

On Behalf of | Nov 7, 2023 | Estate Planning

People don’t always make an estate plan, even though they know that it can be helpful. When they pass away, an estate plan can be used to divide their assets between their beneficiaries. Additionally, estate plans can help with things like making future medical decisions by setting up advanced directives and powers of attorney.

People do tend to see the value in having an estate plan, so why is it that they still don’t make a plan promptly? Here are a few potential reasons.

They’re not sure where to start

Some people believe that estate planning is just too complicated. They don’t know what paperwork to use or how to get the process started. Once they overcome that hurdle and get underway, they find that there is a lot to like about estate planning

They don’t like talking about it

In other situations, people feel uncomfortable talking about the end of their life. They don’t want to have these conversations or think about what happens after they pass away. But if this discomfort keeps them from estate planning, it can create a lot of issues for their family.

They are just too busy

A lot of people feel like they are barely able to keep up with all of their obligations in life. They have to work, raise the children, pay the bills, plan for retirement and much more. They will often say that they are going to do it later, procrastinating their estate planning – which is always a risk

If you haven’t made an estate plan yet, perhaps, for one of the reasons noted above, it’s important that you look into the legal steps you can take to get this plan in place.