People delay estate planning mainly because it forces them to confront mortality, and because they mistakenly believe it’s only for the wealthy. In reality, estate planning is about getting your wishes in writing (verbal intentions aren’t legally recognized) so your family isn’t left guessing.
I’ve been in the financial field for quite some time. And the biggest issues are when to get started and coming to grips with the reality that you’re not going to live forever. Death is a part of life. Get over that construct and just organize your estate plan. Because it’s not about being rich or too rich or poor, it’s about being organized. So, get things in writing, because the government doesn’t recognize verbal, it recognizes things that are in writing. So, put your estate plan in writing. Have a long term care package set up for yourself and your parents, based on their needs and wishes, and follow through on it. It’s not about hurrying to get it done. It’s about doing it right. This is a marathon not a sprint. Start today.
