Q: Why do people avoid estate planning?
A: People often avoid estate planning because:
1) They don’t think they’re old, sick, or wealthy enough to need it,
2) They’re uncomfortable pondering scenarios like illness or death, or
3) They think they can do it themselves using documents found online.
Everyone, regardless of net worth, health status or age, needs an estate plan prepared by a qualified estate attorney. It should articulate who you trust to make health, financial, business and parental decisions on your behalf (so a court doesn’t decide for you), offer protections in case of divorce or remarriage, prevent heirs from squandering inheritances, plan for the care of a special needs child, reduce estate or income taxes, facilitate gifts to loved ones and charities, and more.