What You Need to Know About Getting Your Estate Plan
Many people know they need to think about getting an estate plan but have some mistaken beliefs about the process and what it requires. Some also think they don’t need to worry about creating an estate plan because they believe estate planning is only necessary for wealthy people. Here are a few common misconceptions people have about estate planning from Fort Lauderdale estate planning lawyer Rhonda D. Zimmerman, Esq.
Myth 1 – Estate Plans Are Only Necessary for Wealthy People
Some people think that only wealthy people need to worry about estate planning. However, most people can benefit from creating estate plans to ensure their wishes will be followed after they die. Estate plans can also work to protect people’s interests when they are incapacitated by allowing people to designate agents to make decisions for them. Finally, estate planning documents can be used to plan for long-term care if and when it might be needed.
Myth 2 – Estate Planning Is too Expensive
Estate planning is not overly expensive. When you compare the benefits of getting your estate plan versus the costs, you’ll likely discover that the benefits outweigh the expenses involved with creating a good estate plan. When you are completing your cost-benefits analysis, consider the following factors:
- Your goals for ensuring your assets pass to the people you choose
- Your wish to make certain your final healthcare wishes are respected and followed
- Your wish to help your heirs avoid probate costs and legal fees
- The legal costs involved with preparing an estate plan
- Time involved with getting your estate plan
Myth 3 – You Can Wait Until You’re Older
One of the biggest myths people have about estate plans is that they don’t need to worry about them until they are older. However, even young adults can benefit from estate planning. People can suffer unexpected injuries and illnesses, and having an estate plan in place can help both them and their families to protect their interests.
Estate planning ensures that people understand your wishes and follow them. By creating an estate plan and updating it as changes in your life occur, you and your family can have peace of mind.
Talk to a Fort Lauderdale Estate Planning Lawyer
If you want to create an estate plan, you should talk to the experienced attorneys at the Law Offices of Rhonda D. Zimmerman, Esq. We have years of experience helping people create tailored estate plans that accurately reflect their needs and objectives. Call us today to schedule an appointment at (561) 672-7265.