The Seven Dumbest Things People Are Told About Estate Planning - Part One
Part One
In our family estate planning & elder law office, we often find that people have misconceptions about estate planning that they get though the internet, their friends, and even other professionals. There are various problems with the Part 1 topics below, but the most fundamental one is that believing any one of them may lead to bad decision-making.
1. Estate planning is about planning for your death.
Most people think that estate planning is all about “what happens if I die” (you will!). That being said, when done properly, estate planning is about much more than simple death planning. It is also about ensuring that any shift in control, whether due to disability during life or death, is done in the simplest and easiest way possible; about providing loved ones with peace of mind and relieving them from burdensome decisions that you should make on your own; and, in the best case scenario, about ensuring that assets don’t get depleted by...