Top 4 Reasons People Fail to Make an Estate Plan

 Posted on January 07, 2022 in Estate Planning and Probate

Learning that a loved one who has passed away left no testamentary estate plan can be upsetting. You may wonder why your family member did not take the time to draw up a will or trust. Alternatively, you may have discovered that while your loved one tried to write down some testamentary wishes, he did not do so in a way that is legally effective. There are a wide variety of reasons that some individuals do not have any estate plans. Many people simply do not think they need one, but they are generally mistaken. If you have been thinking about beginning an estate plan but are hesitant, speaking with an attorney may put your concerns to rest. 

Why Do Some People Not Leave Estate Plans?

Estate planning can sometimes be a very personal field of law. The topic can be a sensitive one for some individuals or families. However, the estate property will eventually need to be handled one way or another. It is much easier on surviving loved ones when there is a solid plan in place to guide them. Reasons people may refuse estate planning include: 

• Estate size - Those who expect to leave smaller estates may feel that creating an estate plan is unnecessary. This is not the case - using a simple will or trust to manage a small estate can save your loved ones time and money in the future. 
• Age - Younger people may not see the need for a will or trust. They may not have a spouse or children, and they rarely expect to pass away any time soon. However, planning for the unexpected is a wise move. When a death is unexpected, it can create turmoil for the surviving families. Having an estate plan in place can ease the burden on a family during what could be a very difficult time. 
• Discomfort - Many people simply are not comfortable with the thought of sitting down and deciding who should receive their property when they die. Certainly, considering your own mortality can be unpleasant, but it is important. The process may not take as long as you expect, and it will be hugely beneficial for your loved ones. 
• Error - Sadly, some people think they have a valid will in place and they do not. Wills made without the assistance of a Texas attorney may not be legally effective. 

If you have other concerns that are keeping you from estate planning, talking them over with an attorney may help. The process may be easier and more helpful than you think. 

Call a Texas Estate Planning Lawyer

If you are considering starting your estate plan or would like more information, an experienced San Antonio estate planning attorneys at Geoff Mayfield, Attorney at Law is happy to help. Our law office can be reached at 210-535-0870. We offer free initial consultations. 

Source: 

https://www.investopedia.com/terms/i/intestacy.asp