Many people understand that they should create an estate plan, but there are many reasons why they hesitate to do so. One of the most common reasons is that it can be difficult to accept that a person will not be around one day.
If you die without an estate plan in New York, however, you risk dying without an estate plan that could make sure that your assets are protected and that your loved ones receive what they deserve.
This article follows some strategies that you should follow to make sure that you end up writing your estate plan sooner rather than later.
# 1 – Realize Who Benefits from your Estate Planning
Estate planning is done less for the individual writing the document and more for that person’s loved ones. These plans inform your loved ones about what you would like to happen after your death as well as who you would like to care for minor children. These plans also avoid forcing your loved ones to pay additional costs and time.
# 2 – Imagine What Would Happen without an Estate Plan
One of the best ways to avoid procrastination is to understand the worst thing that will happen in case you do not create an estate plan. Without an estate plan, there is an increased risk that a court will end up deciding who takes care of your children.
State law in the absence of an estate plan decides how a person’s estate is divided, which means a person’s estate can be administered in a way they do not desire.
# 3 – Keep Things Simple
Many people end up feeling overwhelmed when they engage in estate planning because they feel that they must address every possible angle.
Creating a basic estate plan, however, is not as complex as many people think that it will be. This is particularly true if a person retains the assistance of an experienced estate planning lawyer who can help guide them through this process.
It is also a good idea to frame an estate plan about what you would like to happen in the next five years rather than addressing all of the various possibilities that could occur.
# 4 – Follow a Timeline
It is a good idea to make an appointment with a lawyer for several months down the road. Appointments are easy to schedule and this way you will feel like you’ve made a substantial step towards creating an estate plan.
There is also the comfort of knowing that you will not have to go through the difficult process of creating an estate plan any time soon. Like many of the hardest things in life, estate planning can become manageable if you break the process down into smaller and easier to perform segments.
Speak with an Experienced Estate Planning Lawyer
Estate planning is a complex process, but a skilled attorney can make this process much less so. If you need the assistance of an estate planning lawyer, contact Ettinger Estate Planning today to schedule a free initial consultation.