Estate Planning: Don’t Put It Off

Most of us live busy lives, and it is natural to try to set priorities, and when you do some things are simply going to be pushed to the back burner. What are the types of things that we tend to procrastinate about? You could say these would be matters that are not important, but this isn’t true because if they were really unimportant they would simply be off the radar. The fact is that people procrastinate about things that they feel as though do need to do; they just think that they can put these matters off until later. And the less they want to do them, the longer they will wind up putting them off.

Estate planning is something that people tend to procrastinate about, and this is actually quite understandable. It is human nature to view aging and death as eventualities you don’t have to concern yourself with until you have reached an advanced age. However, estate planning must logically start far before the time when you feel as though the end is drawing near, and there are those that put off creation of an initial estate plan far too long. You never know what is around the next bend in the road, and accidents do happen. Having an estate plan in place is simply one of the necessities of life as a responsible adult.

Since estate planning and procrastination tend to go hand in hand, those who have never created a plan are not the only culprits. A lot of people put it off too long and then finally do sit down with an estate planning lawyer and draw up the documents that are appropriate at that time. But then their families grow, they have grandchildren, their financial situations change, tax laws are amended, and the existing estate plan is no longer appropriate given the changed circumstances of their lives. They now have to revisit their estate plans, and if they put it off for too long their families may be victimized by their procrastination.

The message here is to recognize the need to have a solid estate plan in place throughout your life, make it a reasonable priority, and keep it up to date. The time and effort that it takes is well worth it when you consider just how much you care about your family and how important your legacy is going to be to them when you pass away.