There is one topic that is emotionally charged, and that no one wants to discuss: Death. No one wants to admit that there is an expiration date on his or her life, but addressing that fact could protect yourself as well as your loved ones. After all, you have spent years building the perfect life for those you love. Now is the time to ensure all that hard work keeps your family members safe.
There are five common emotional blocks that stop people from doing an estate plan. While these concerns are all valid, there are ways to overcome these emotional blocks so that you can draft an estate plan that benefits those you love, and even protects your interests.
What Are the Five Emotional Blocks of Estate Planning?
- Discussing death. No one wants to discuss death. Death is by far the largest emotional block for people when it comes to estate planning. Some have a superstition that if they create an estate plan, they are bringing death on faster. While death is difficult to talk about, it is a reality of life. Therefore, planning for that unknown mortality is the only way you can ensure everyone in your life is protected.
- Giving up control. Some assume that estate planning is giving up control, but it isn’t. You may fear giving up assets, but consider the tax savings you are offering beneficiaries. While there are horror stories out there about what happens when families inherit an estate, you cannot let that stop you from creating an estate plan yourself. There are techniques that an attorney can use to control how your assets are distributed and used – all while keeping you in control.
- Paying for or dealing with an attorney. A surprising emotional block is dealing with an attorney. There is no reason to fear attorneys. They are professionals who offer services to those who need them, just like an air conditioning repair company or mechanic. Using an attorney is no reflection on your intelligence, either. If anything, using an attorney shows that you are intelligent enough to know that a professionally drafted plan is better than a do-it-yourself one. When you find the right attorney, you will notice that the process is simple and easy, and there is nothing to worry about.
- The cost of estate planning. Most fear paying for an attorney. Some have heard horror stories about how an estate plan cost a friend thousands of dollars, and then someone had to pay hundreds more to another attorney to correct issues of the past. Do not look at the dollar amount. Instead, look at the investment. You are paying to protect your loved ones and the assets you have worked hard to generate for them. You cannot put a price tag on that reassurance.
- Keeping everyone happy. One of the biggest emotional hurdles in estate planning is keeping things fair and keeping your beneficiaries happy. You may have one child who has special needs, so you want to provide for him or her, but not leave other children out. You may be remarried and have step-children to provide for now too, but you do not want your children feeling as though they are replaced. A good estate planning attorney can help you devise a plan that provides for everyone and is fair, yet still provides for those who need extra.
Contact an Estate Planning Attorney Today to Explore Your Options
The best way to get over the emotional blocks of estate planning is to sit down with an attorney for a consultation. Consultations are non-obligatory; therefore, you are not required to hire the attorney after meeting with him or her. These consultations do, however, give you the chance to get to know your potential lawyer and see if he or she is the right fit for your situation.