Myth #4 – “It takes too much time and it’s too expensive”
Unfortunately, this “myth” tops the list. Like all things in life that are worth doing, the estate planning process involves an investment of your time and resources. Time and money you invest now will likely save time and money in the future. After all, your loved ones will only spend more time and money than necessary navigating through the intestate process if you die with a will. It certainly is a “pay forward” process that provides peace of mind. In this light, the process certainly does not take “too” much time or money.
No matter your age, your wealth, your marital status, or your current willingness to engage in the estate planning process, you need an estate plan. Clients who engage in this process earlier in life tend to have a more general sense of direction for other types of life planning and a greater peace of mind as they take on life’s challenges.