When it comes to thinking about the process of sitting down and writing out your estate plan, many people put it off. There are plenty of different excuses, some of which might even seem reasonable and logical at the time.
However, it can be problematic to put estate planning off too long, because you may find yourself in the middle of dealing with an unexpected disability for yourself or leave your loved ones to deal with adapting quickly after your death when no plans have been made. Consulting with an experienced estate planning attorney can help you to create a comprehensive plan with your best interests in mind. This plan is the cornerstone of your goals for your future but can also be adapted and changed over time. There are two prominent reasons that often pop up at the top of the list why people do not engage in estate planning.
The first is thinking that you have plenty of time because it’s very easy to put these important tasks on the backburner. Everyone assumes that they won’t need an estate plan until they’re much older, but the truth is that making an appointment with an estate planning lawyer helps to protect you and your loved ones now. Another common reason why many people avoid the estate planning process is because they don’t have that much money and believe they need to hit a certain asset threshold before getting involved in estate planning.
Even beyond a will which helps to transition your assets when you pass away, it’s important to have updated documents like a living will and a power of attorney in case you are unable to make decisions for yourself. These estate planning documents can and should be created now. For more information about this process, schedule a time to meet with a dedicated lawyer in Virginia Beach.