Myths About Estate Planning

estate planning

Most people don’t like thinking about estate planning and it’s understandable. However, it’s one of the most important conversations you can have with a New York attorney and your loved ones to ensure your wishes get fulfilled after you pass on. The best law firms in NYC will make the process of creating an estate plan seamless, and you can have peace of mind at the same time. Here are some of the most common myths about estate planning you should avoid believing.

Estate Planning Is Solely Regarding Money

Money is a big part of every estate plan, but it’s much more than just that. Even if you don’t think you have enough money to create an estate plan, you might have land, a home, vehicles, or any other possessions that your loved ones will have to deal with. You can help them avoid expensive and timely probate processes by putting together a comprehensive estate plan with a New York Attorney.

Only Rich People Need An Estate Plan

Everyone, regardless of wealth, should have an estate plan. It provides direction and guidance for loved ones in the event you become incapacitated or die. This includes managing your finances if you are no longer able to, what type of healthcare you will receive if you can’t make decisions on your own, and ensuring your heirs are cared for. As you can see, these factors involve everyone, not just people with a lot of money.

Estate Planning Costs Too Much

Estate planning with a New York attorney might be more expensive than doing one online, but the benefits you receive are worth it. Most people are even surprised at how reasonable the cost is and the peace of mind you can have when your estate planning documents are complete is priceless. And the cost of the probate process your heirs will have to deal with is much more costly than putting together an estate plan with an attorney.

Young People Don’t Need An Estate Plan

You’re never too young for estate planning. Life can throw us curveballs when we least expect it and it’s important to have a plan in place if you become incapacitated and have healthcare needs in the short-term or long-term. While it might not feel urgent to start estate planning at a young age, you owe it to yourself and your loved ones to get yours done as soon as possible.

Gordon & Gordon makes estate planning as easy and comfortable as possible for clients. We are one of the top NYC law firms for many reasons, so contact us today and we will ensure you and your heirs are protected.