The Internet has made it very easy to find answers and instructions on just about anything, including how to create a do-it-yourself (DIY) estate plan. There are websites and software packages, along with DIY estate planning books and kits that…
You’ve remarried, and now not only have a new spouse, you also have a new, blended, extended family, including stepchildren. While there can be much joy involved in a second marriage and having a blended family, along with some normal…
Thanks to technology and medical research, more and more children with special needs are living productive lives well into adulthood, making it more and more likely now that they will outlive their parents. As a result, parents must plan for…
According to a Forbes article, at least 51 percent of Americans between the ages of 55 and 64 don’t have a will. That number is even higher among those younger than 55, at 62 percent. Perhaps one big reason that…
Your will and other estate planning documents should be reviewed when you have a life changing event, like the birth of a child. But even without big life changes, it’s best to occasionally review your documents as circumstances change and…
The combination of tightened budgets and an abundance of readily available DIY estate planning software has led many to believe this might be a project they can tackle on the their own. Although experts generally agree there are a very…
Despite the fact that estate planning is a crucial step in creating a secure financial future, the majority of us put it off as long as possible, some equating the act of creating an estate plan with having a root canal. In reality, working with your Virginia estate planning attorney is not painful at all. You can either hide your head in the sand and hope for the best, or you can plan, and rest easy knowing your wishes will be carried out in the event you become incapacitated or you die.
When you choose to avoid thinking about estate planning, your beneficiaries can be hit with significant costs, it can take a longer time to probate your will, your true wishes may never be known, and those you love can suffer unnecessary problems and heartache. Many people still believe estate planning is only for the very rich, but anyone who has any assets at all—pretty much everybody—should have basic estate planning documents. If you are ready to begin estate planning, the following steps will help guide you through the process:
Having an estate plan is extremely important, yet the majority of American adults don’t even have a simple will. Some 39 percent of adult men feel like having an estate plan is simply not necessary, while 26 percent of women believe it is too costly. Those who consider themselves Republicans are more likely to have an estate plan (46 percent of all registered Republicans do have some type of estate plan), while only 37 percent of Democrats have an estate plan. Almost a full third of Americans would rather give up sex for a month, do their taxes or get a root canal than to engage in estate planning. Aside from feeling an estate plan is either not necessary or too expensive, other common reasons given for not having an estate plan include:
If you are like many people in this economy, you may have put off doing any estate planning because of the cost. While this is understandable, there are ways you can plan your estate on a budget. Some of the ways you can effectively reduce estate planning costs include the following:
While most of us are aware of the need to do at least a minimal amount of estate planning, few of us actually take the necessary steps to do so. According to Rocket Lawyers, more than 65 percent of Americans don’t even have a simple will—a number which is actually up from 2011. Even more women between the ages of 45-54 (67 percent) don’t have a simple will, let alone other estate planning documents. Perhaps even more shocking is that a full third of Americans say they would rather get a root canal, or do their taxes, than to create or update their will.