Did you know that the vast majority of people never get around to making a will? Or, if they do have a will, circumstances often change and they fail to update them? Without one, you may lose control over the possessions you’ve worked so hard to earn, or be stuck with having to follow that statutory form of will, which may not be what you want.
There is something about making a will that puts people off. So many people contact me about estate planning; we often meet to discuss their needs. But all too often, their will never gets completed in time. What is it that makes people so uneasy?
Primarily, most people are extremely uncomfortable having to plan for their demise, or the demise of a spouse. A will is something they know they need; but it’s something they think they can plan later — always later. There is also the hassle of finding a good attorney, making an appointment, and spending the time putting together information and making decisions. It’s always easier to put it off.
Frequently, there are concerns about how wisely inherited assets will be used, or about dividing up one’s estate equitably, particularly when there are family conflicts. These are frequent issues to be taken into account with today’s blended families. Too often, people decide to let these problems resolve themselves after they die. From my experience, WHAT A MISTAKE!
When you postpone making a will, when you die “intestate”, you often exacerbate problems you sought so long to avoid. Conflicts arise among family members, at times creating more of a rift than before. Your assets will not be distributed according to your wishes, but according to statutory law which rarely takes into account the unique qualities of everyone’s life and family.
Whatever the reason for putting it off, making a will requires willpower! It requires more than just choice; it requires action! Simon & Simon is here for you. Email us at [email protected].