5 Myths and Misconceptions About Estate Planning

1) I’m too young to start thinking about a Will

Life is unpredictable and uncertain. Take some time to create a Will and other important estate planning documents in order to ease the burden on your family.

2) I don’t need a lawyer to create a Will

While this is technically true, I don’t recommend it. There are many variables and unique situations that play into an individual’s estate plan, and a generic document may not cover those.

3) My family will know how to distribute my things

Think again! Chances are, each of your family members will have different views on what to do with your belongings. Avoid family feuds by designating where your money and sentimental things will go when you pass away.

4) I already made an estate plan. Now can I put it in a drawer and forget about it?

Unfortunately, laws and life are constantly changing. You should review your estate plan every 3-5 years or after any major life changes to make sure it still reflects your wishes. A visit with your attorney will determine if any changes in the law impact your plan.

5)  I have a Will. That’s all I need

While having a Will covers the basics once you pass away, it will not settle matters if you become incapacitated. Consider creating Powers of Attorney and a Living Will to give the ones you love authority to act and direction in the event of catastrophe.

The following two tabs change content below.

Law Offices of Debbie J. Cunningham

Debbie Cunningham is an Irving attorney providing affordable estate planning to the Dallas/ Fort-Worth areas. She understands the steps you should take to protect yourself and your loved ones. Debbie is family-focused and wants to ensure her clients are fully informed on the options that are available for their families. Debbie’s own blended family has given her valuable insights into the complexities of family dynamics.

Latest posts by Law Offices of Debbie J. Cunningham (see all)