Protecting Your Loved Ones, Lifestyle and Legacy
Like any other complex subject, estate planning has its share of myths and misconceptions. Understanding the top three estate planning myths will help you to create and maintain a plan that will work the way you expect it to work when it’s needed.
Estate Planning Myth #1 – You Don’t Need an Estate Plan Because Your Spouse Will Inherit Everything
A common belief is that if you’re married and you don’t have a will or a trust, your spouse will still inherit everything. Unfortunately this is not always the case. Who will inherit your estate even if you’re married depends on many different factors, including how your property is titled, who you have named on your beneficiary designations, and the laws of the state where you live and any other state where you own property. The only way to insure that your spouse will inherit everything is to sit down with an experienced estate planning attorney who will help you create an estate plan that will meet all of your goals.
Estate Planning Myth #2 – You Don’t Need an Estate Plan Because Your Family Knows Your Final Wishes
You’ve shared your final wishes with your family and you’re confident that they’ll “do the right thing” after you die. Unfortunately, without having these wishes written down in a valid will or a valid trust, your family may not be able …