352-204-2224

Lauren N. Richardson, Attorney at Law

2700 NW 43rd Street, Suite C

Gainesville, FL 32606


Disclaimer: The hiring of a lawyer is an important decision that should not be based solely upon advertisements. This web site is designed for general information only, and Lauren N. Richardson, Attorney at Law, does not offer any warranty or representation as to the site's accuracy or completeness. Every legal situation is unique and no information offered here should be used without the advice of an attorney regarding your specific situation. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Email or phone inquiries do not establish a lawyer/client relationship. No lawyer/client relationship is established until a retainer agreement is executed.

©2016 by Lauren N. Richardson, Attorney at Law. Proudly created with Wix.com

Estate-Planning Myths

February 8, 2018

Estate planning is a subject many individuals aren’t well versed in. Many people don’t want to go through the process of hiring an estate-planning lawyer to develop a plan. Because of this, people often procrastinate and wait last minute to create an estate plan. There are many myths associated with estate planning. Below are FIVE estate-plannings myths that can be easily debunked.

  1. I’m Too Young to Worry about Estate Planning
    • When  a person is young and healthy, they are not thinking about the disbursement of his/her assets. However, estate planning isn’t only about assets. An estate plan also includes nominating a guardian, a durable power of attorney and a health care surrogate designation.

  2. I Don’t Have Enough Assets for Estate Planning
    • When a person considers his/her assets, he/she often refers to the size of his/her estate. Even though someone may not have a large estate, that doesn’t mean they don’t have important assets that need protecting. A person still needs a a designated person to manage assets, such as photos and personal property, after death.

  3. My Spouse (or Children) Will Get Everything Anyway
    • This isn’t always the case. For example, if a person gets remarried and doesn’t update his/her will or living trust before passing away, the new spouse won’t receive any assets.

  4. My Family Will “Do the Right Thing”
    • It is important to have a plan. Although you want everyone to act selflessly and follow the interests of the past loved one, there is always the chance of one person acting selfishly.

  5. I Can Just Use a Form and Write My Own Will
    • There are different rules for handwritten wills in different states (read out blog “What’s the Deal with Handwritten Wills?”). Also, a proper estate plan doesn’t only involve a will; therefore, a person should still seek council when developing a plan to avoid the expensive, stressful probate process.

 

Sources:

http://www.upchurchlaw.com/florida-estate-planning-myths/

https://www.forbes.com/sites/financialfinesse/2012/10/03/10-common-estate-planning-myths-that-can-be-detrimental-to-your-family/#60430e124f26

 

https://www.araglegal.com/individuals/learning-center/topics/planning-your-legacy/estate-planning-myths

Please reload

Recent Posts

Please reload

Archive

Please reload

Tags