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Misconceptions regarding the estate planning process are common

On Behalf of | Sep 23, 2020 | Estate planning |

Future wishes for an estate are not always easy to express. In some instances, difficulties with estate planning can arise because Georgia residents believe certain so-called facts about the planning process that are actually common misconceptions. However, even if individuals have already started the planning process with some inaccurate information, it does not mean it is too late to make changes.

One mistake that some people may make is thinking that they can leave the entire planning process up to the professionals. While having legal help and even financial help with planning is advisable, the wishes and decisions of an estate plan are immensely personal. Rather than sitting back and letting others make these vital choices, individuals may want to stay in control and ensure that their plans reflect their true wishes. Directions from the testator can allow a support team to work more cohesively.

Another misconception people may believe is that they should get the planning process over with quickly by simply leaving everything to their kids. While naming children as beneficiaries is common, it is not the only planning option for asset distribution worth considering. With the right information, parties may learn of the various and interesting ways they can allow their remaining funds to make a difference even after their passing.

If Georgia residents have an estate plan that they are not entirely happy with or are simply ready to start the planning process, the right information could go a long way in helping them create a plan with which they feel comfortable. After all, these instructions will decide how their remaining estate will be handled, which is important to the person planning as well as future generations. Interested parties may wish to discuss their options and wishes with experienced attorneys and work toward bringing themselves some peace of mind.