3 Estate Planning Fallacies Revealed

3 Estate Planning Fallacies Revealed

Are you in need of an estate plan? What would happen to your assets if something were to happen to you suddenly? While some put off estate planning, the reasons are often based on myths about what estate planning is. We’re going to address 3 common misconceptions.

Myth #1: Only the Elderly Need Estate Planning

Unfortunately, unforeseeable events can affect anyone. Even if you are in your 20s or 30s, you should be planning ahead to make sure that your affairs are in order for the sake of your loved ones.

Myth #2: Only Wealthy People Need Estate Planning

First of all, regardless of the amount of money or assets you possess, you want them to go to the right people. Second, estate planning is about more than just money. It also includes things like child custody, or the appointment of someone to make medical decisions on your behalf in case you are incapacitated.

Myth 3: My Wife and Kids Will Automatically Get Everything

Maybe they will. Is that really something that should be left up to chance? Plus, how do you know the courts will apportion things the way you would want. And what if you have a charity you want money to go to, a favorite nephew, or a loved one who isn’t a blood relative? Getting your wishes down in writing is a must.

Affordable Estate Planning in San Diego, CA

If you are in need of an affordable estate planning attorney, contact the lawyers at Petrov Law Firm today. We can help you ensure that your wishes are carried out when you are no longer able to do so on your own. Call 619-344-0360 to schedule your consultation today.