Do I Really Need an Estate Plan?

Some Common Misconceptions About Estate Planning

  1. I am not rich so I don’t need an estate plan
  2. Everybody knows what I want, so why do I need a will?
  3. Minimizing taxes is one of the most important goals in developing an estate plan. 
  4. My spouse and I have been separated for many years, but haven’t bothered to get a divorce. I am not going to leave him/her anything. 
  5. My significant other and I have been living together for many years and I want him/her to inherit everything I have. 
  6. I have a simple will that takes care of all my concerns and that is all I need. 
  7. I have got a trust and that takes care of everything. 

Here’s a checklist to help you deal with these concerns:

  1. Review your will or trust to make sure it remains consistent with your wishes.
  2. Check your medical directive and financial powers of attorney to insure that they remain consistent with your wishes.
  3. Review your beneficiary designations.
  4. What about your pets?
  5. Do you have specific wishes for a funeral and burial?

Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more. We are currently offering free consultations via video conference to assist you with your needs.

This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them.

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