A common belief is that one of the main reasons that people put off estate planning is they are afraid to die. Although most people do not truly think that they will hasten their own deaths by planning for their estates, the superstition is out there. Who is most likely to hold this superstition? Researchers at Oxford University have discovered what might be somewhat surprising findings about what types of people are the least afraid of passing away.
Estate planning makes people think about what will happen after they pass away. They must think about and provide for who will care for their spouse, children and their business. It also forces people to think about the legacy they want to leave. For many people, estate planning also causes them to think about the act of death itself, and they are afraid of it. Unfortunately, this causes some people to delay estate planning for too long and they pass away without estate plans.
This is a common misconception. The belief that if you do not create an estate plan then you do not have one. Actually, the reverse is true. Most people are surprised to learn that they actually do have a plan. In the absence of legal planning otherwise, their estate will be distributed after death according to Wisconsin’s laws of intestacy. Of course, this may not be the plan they would have chosen. A properly drafted estate plan will replace the terms of the State’s estate plan with your own.
Do not wait to create an estate plan that reflects your wishes, protects those you love and creates the legacy you want to leave. At the Hougum Law Firm, we know and understand the challenges you face and we want to help you plan ahead to protect yourself and those you love most. Call us at (715) 843-5001 or contact us through our website to schedule an appointment with Attorney Alan Hougum.