Are you delaying estate planning? If so, you’re not alone. Many people put off creating an estate plan, but have you ever stopped to wonder why? We asked some of our clients why they hesitated at first, and in this article, we’ll share some of their most common reasons—some may surprise you.
Acknowledging and understanding these concerns might help you take the next step in protecting your family and securing your legacy. Make 2025 the year you get it done!
1. Lack of Understanding or Knowledge
It’s Complicated: Many people think that estate planning is only for the wealthy or that it’s a complicated legal process. They may not understand the legal terms and what is best for them and their family. Some people believe that if they don’t have much property or assets, they don’t need to worry about it. Nothing could be further from the truth. You want to protect what you have, and estate planning will help to avoid complications and conflict among your family after you are gone.
The other piece that can be confusing is knowing when the right time is to plan. Many people assume estate planning is only for retirees, or those with significant wealth.
Solution: Work with an attorney you trust, who will walk you through the various documents and help you gain clarity around the best plan for you and your family. And we believe, everyone over the age of 18 should consider creating a basic plan to address Health Care decisions and Powers of Attorney. Our firm works with people at different stages of life; from the age of 18, to retirement and every stage in between because, you just never know.
10 Things to Ask an Estate Planning Attorney
2. Procrastination
Perception of Time: People often think they have plenty of time to create an estate plan and that it’s something that can be handled “later,” especially when they’re young or in good health. Death may seem far off in the distance. But the truth is, anything can happen at any time.
Procrastination Due to Perceived Incompleteness: People may feel like they need to have everything figured out before they start planning, but estate planning can be adjusted as life circumstances change. The pressure to “get it all right” upfront often results in postponing the process.
Solution: Create a plan now, when you are healthy, and before a crisis strikes. It is much easier to make decisions when you are not under stress.
Solution: Work with an attorney who conducts regular reviews of the plan they created for you, ensuring your plan stays current and will work they way you need and want it to.
FAQ Video re: Reviewing Your Estate Plan
3. Emotional Discomfort
Fear of Facing Mortality: Planning for the distribution of one’s assets or who will handle their care in the event of incapacitation requires thinking about one’s own death or serious illness, which can be uncomfortable and anxiety-inducing. When thinking about guardians for children, many of our clients had not thought about who would take care of their kids for the long-term, or the short-term. Planning for who will take care of your kids if you aren’t here is one of the most difficult decisions for parents. But not planning for this scenario will leave your children in the hands of the courts to decide.
In addition, discussing inheritance can stir up disagreements or hurt feelings, and some may delay planning to avoid these conversations.
Solution: While facing mortality is never easy, having the conversations now will prevent your family from having to go to court and alleviate conflict. Proper planning allows your family to take the time to grieve, knowing everything else is taken care of.
4. Uncertainty about Who to Work With
Uncertainty about Who to Turn To: Many of our clients didn’t know where to start. They questioned whether they should work with their parent’s attorney. Some of our clients had friends who practiced other areas of law, and they thought that would be fine. Others were overwhelmed by the process.
Solution: When searching for an estate planner, be sure to do some research. If you have young kids, be sure the attorney you choose is well-versed on guardianship and how to choose both long and short-term guardians. Ask if they have a Kids Protection Plan for their clients with minor children.
5. Belief That Online Tools Are Sufficient
Do-It-Yourself: Some people opt for quick, cheap online solutions like do-it-yourself Wills or online services. These do-it-yourself plans are most assuredly not tailored to your individual needs and wishes. If you are lucky enough to work with a live person, they certainly will not be there when your family needs them most. The money you save by creating your cheap plan, will most likely end up costing your family thousands of dollars.
Solution: These do-it-yourself solutions seem tempting, but they are not comprehensive, and there certainly is no guarantee there will be a live person guiding your family when they need it most.
If you have thought about one, or all these reasons to avoid estate planning, you are not alone. These reasons are valid, but they can all be overcome by recognizing the importance of proper planning, and working with a firm whose sole focus is estate planning. Working with a firm who can explain each step, helping you to understand every document, who will answer your questions, and who will be there for your family when they need guidance, cannot be underestimated.
At The Parents Estate Planning Law Firm, we work with individuals and families at every stage of life, from 18-year-olds needing a basic plan, to retirees planning their legacy. Whether you’re single, married, have young children, grown children, or no children, we help you create a plan to meet your unique needs and goals. We guide clients through estate planning, making it simple and straightforward, ensuring peace of mind, no matter what stage of life you are in.
