Why "I'll Get to It Later" Doesn't Work in Estate Planning: Insights from a Milford Will Lawyer
- By Steven Rubin
- Posted November 17, 2023
"I'll get to it later." It's a phrase many of us have uttered, especially when it comes to tasks that feel overwhelming or too distant to be pressing. Estate planning, for many, falls into this category. But as any experienced Milford, CT will lawyer will emphasize, in the world of wills and trusts, sometimes "later" becomes "too late."
The Reality: Tomorrow Isn't Guaranteed
Life's unpredictability is its only constant. We make countless plans for the future, but the truth is, tomorrow is never promised. This isn't a gloomy outlook but rather a call to action. By postponing essential decisions, we inadvertently expose our loved ones to potential complications, disputes, and uncertainties.
Risks of Postponing Estate Planning
- Intestacy: Dying without a will (intestate) means the state decides how to distribute your assets. This might not reflect your wishes and can lead to unintended beneficiaries.
- Family Conflicts: Ambiguities can cause disagreements among family members, leading to strained relationships or even legal battles.
- Missed Opportunities: Waiting might mean missing out on effective tax strategies or asset protection measures that a Milford will lawyer could have advised on.
- Loss of Control: Without directives, such as a medical power of attorney, you lose control over decisions made on your behalf if you're incapacitated.
Overcoming Procrastination: Steps to Take
- Begin Small: Starting is often the hardest part. Schedule a consultation with a Milford will lawyer, even if just for an initial discussion.
- Educate Yourself: Sometimes, the unknown is daunting. Understanding the basics of estate planning can demystify the process.
- Reflect on Your Wishes: Consider who you want to inherit your assets, who should make decisions on your behalf if you can't, and any charitable legacies you want to leave.
- Regular Reviews: Estate planning isn't a one-time event. Once in place, review your plans periodically, especially after significant life changes.
Postponing estate planning under the assumption of "I'll get to it later" can have lasting consequences for your loved ones. Collaborate with a Milford will lawyer to ensure your wishes are documented and protected. After all, in the realm of estate planning, acting today is the best way to secure tomorrow for those you love. If you have questions or need guidance, reach out to our law firm at 203-877-7511 to schedule a consultation.
Contact our will and trust planning lawyers in Milford and Hartford, Connecticut.