Many Americans don’t have estate plans for a number of reasons, often due to common misconceptions. But having a clear view of the process can be vital for taking care of yourself and your family.
Only 40% of Americans have a will. Whatever the reason for avoiding the process, the failure to have a will in place when you go can lead to tough questions you won’t be around to answer. Crafting the proper documents ahead of time can provide you with care, look after your family and make sure they can carry your wishes out.
If big questions are standing in the way of you and a comprehensive plan, getting clarity can alleviate some strain:
- Your family knows what to do: You can say your wishes out loud until you’re blue in the face, but that might not solve anything. The state has requirements for what constitutes a legal will, and dying without one leaves your estate at the whims of Louisiana.
- It’s just for the rich: 47% of people think that wills are only for those that are incredibly well-off financially, but just because you don’t have an enormous lump sum doesn’t mean you shouldn’t make a will. The intricacy of your estate may surprise you once you look at property, investments and retirement accounts that your family will need to manage.
- It only helps after you pass: A healthy estate plan can go into effect well before it’s time to distribute your assets. Qualifying for Medicaid can be a complicated process, but it’s possible through estate planning to get the assistance you need without draining funds that might otherwise go to your family.
- You’ve completed the process: Even if you’ve already made a will, your job isn’t over. The terms in your will need to grow and change as your life does. Every major life event, whether a new marriage, a new generation of family or a new business venture, you’ll want to tackle it all in the will.
Put everything in focus for yourself, and it could lead to you clarifying your wishes for your family. Get the answers you need so you can leave behind some of your own by attending our seminars that are free to the community. Register today to reserve your seat.