There may be many individuals who have preferences about what will occur in the future but have yet to create a plan that details their wishes. In some cases, one may even have reservations about estate planning, some of which may stem from misconceptions about the process. Exploring what this process might have to offer could help individuals in Georgia overcome reservations and prepare to create an estate plan that focuses on protecting their preferences and needs.
Studies suggest that there are various reasons one might hesitate to create an estate plan and some common examples of misconceptions about this process may include:
- Level of wealth: There may be many who feel that estate planning is only for the wealthy, while many aspects of this process might not even revolve around financial decisions.
- Asset distribution: Experts indicate that some may also think that their assets will automatically be divided according to their wishes, while this may only occur if there is an estate plan in place.
- Preserving wishes: It may also be easy to believe that others understand and will preserve one’s wishes, which might not always be the case and creating a plan could prove integral to achieving similar goals.
While there may be many who feel that their loved ones will not argue when managing their affairs, familial conflict remains unfortunately common in similar matters and creating a strategy could help mitigate such conflict.
This may only be a brief list of common misconceptions about estate planning and addressing such issues may be vital to preparing to initiate the process. Those who wish to explore what estate planning might have to offer could choose to consult with an attorney for guidance in evaluating their situations. An attorney in Georgia can help address all a client’s questions and concerns and assist in developing a plan that focuses on protecting his or her wishes and preferences.