One of the areas in which procrastination can strike is in estate planning. One thing that may lead people to drag their feet on estate planning is an assumption that the process will be very death-focused. Death is a topic many people don’t like to think about, so the thought of going through a death-focused process can be an unappealing one.
When it comes to wills, the details matter considerably. From how a will is worded to what steps are taken to execute the will, there are all kinds of little details that can impact what effect a will ends up having and whether the will does end up doing what the person it’s for intended it to do. So, there are all sorts of things it can be important to properly address during the process of forming a will. Estate planning lawyers can help individuals with tackling the various details in this process.
Among the worries a person may have in relation to their estate plan is a worry that their planning documents might be misinterpreted.
What happens after a person dies can have major impacts on their friends, family and legacy. Despite this, many Americans continue to put off making any formal plans for controlling what will happen with things such as their assets after they pass away.
Many people have certain expectations about their eventual death. This includes assumptions about who they will die before and who will die before them. When a person forms a will, these expectations often inform their primary plans for what will happen with their assets when they die, such as who they designate as beneficiaries.
Given that we are almost a week into 2017, chances are very good that those individuals who made New Year's resolutions are now finding it harder to break their old habits and stick to their new goals. Indeed, the regular trips to the gym might already be getting increasingly tedious while the ability to resist that extra dinner portion might be getting increasingly difficult.
All too often, people are aware of the need to create an estate plan and the inherent value in doing so, yet fail to take the necessary action. For some, this inaction can be attributed to discomfort with addressing the always sensitive issue of their own mortality, while for others it can be attributed to the mistaken belief that the process of creating even a simple will prove to be beyond their understanding.
Some seniors are married during most or all of their elderly years, while others are single during these years. A recent report indicates that women are more likely to be in the latter group than men are.
Charitable giving does not have to be a standalone process. Rather, when supporting charities is among a person’s goals, they can incorporate their charitable giving into their larger overall plans, such as their estate plan, through planned giving.