You are going to pass away. It cannot be avoided, so you should plan for it.
One of the biggest issues in estate planning is not about the planning itself. It is about getting people to come to terms with the fact that they will pass away eventually. People cannot begin to make plans until they realize that fact and are willing to talk about it enough to express what they want to have happen to their assets.
Forbes recently wrote about this and offered some advice in "What Every Estate Planning Lawyer Wants You To Know About Death And Dying."
The things to know include:
- Estate planning can be an emotional process and it is very normal to have strong feelings about the subject and who will get your assets after you pass away.
- You are going to die. You do not know when. It is hoped that it will not happen to you for a long time, but it is possible that you could be in some kind of accident sooner than you think.
- Estate planning is not really for you. It is for all the loved ones you will leave behind. By having a good estate plan, you make things much easier on them.
- Do not be afraid to talk about what you want to happen after you pass away. Let your family know and let your attorney know so proper plans can be put in place.
- You can always change your estate plan later if you want to. In fact, it is advisable to review your estate plan regularly to make sure it is still what you want and to update if necessary.
Reference: Forbes (June 13, 2016) "What Every Estate Planning Lawyer Wants You To Know About Death And Dying."