Your estate plan is not as hard as you think

On Behalf of | Jul 20, 2020 | Uncategorized |

If you are like most people in Tennessee, the topic of estate planning is one that you are trying to avoid. Whether you do not like discussing your own mortality or are simply afraid of the process, you have been pushing off discussion of this area. However, you should know that estate planning is not just for rich people and is something that you need to consider.

Start with the basics

It is best to use a methodical approach when it comes to estate planning. Think of it one part at a time. The first thing is to inventory your assets and the people in your family who need to be provided for in the future. Then, make sure to learn about the various options that are available to you. They may not be as difficult to understand as you think. Once you have your estate plan in place, you need to come back to it periodically and reassess it when your life changes.

The costs of not having an estate plan

While you may be hesitant to spend the time and the money now on something that you think you will not need for years, there is no more advantageous time than now. Since estate planning is about more than just a will, your family may need to make difficult decisions without any guidance in place. The estate plan will help prevent discord and litigation in the future.

If you are afraid of getting started, you may want to sit down with an estate planning attorney to begin the discussion of the steps that you need to take. The attorney may help educate you as to what is necessary. They may then counsel you on the various solutions that could work for you and your family. Finally, they might help you draft the relevant documents so that they are completed correctly.