Common Estate Planning Myths and Superstitions

We wanted to share some common myths and superstitions about estate
planning. Most Americans know the story of Groundhog Day: if a
groundhog comes out of its burrow this morning and sees its shadow, it
will retreat back into the burrow and six more weeks of winter weather
will follow. On the other hand, if the groundhog does not see its
shadow and remains aboveground, winter will soon end.

Most of us recognize that the ability of a groundhog to accurately
forecast the weather is just a myth. (The reality is that groundhogs
get it right only 39% of the time.) However, many people still believe
in the following estate planning myths and superstitions (or at least
use them as an excuse not to plan):

#1: You are more likely to die once you complete your estate planning.
This is simply absurd; generally, the only people who die shortly
after executing an estate plan are people who waited ALMOST too late
to plan in the first place.
#2: Estate planning is only for the wealthy. When you hear the word
"estate," do you think of a palatial mansion or fine jewels? The truth
is that if you own a home, a car, a bank account, life insurance,
etc., then you have an "estate".
#3: Estate planning only matters after death. A big part of the estate
planning we do at our firm is planning for possible future disability.
Wouldn't you like to leave directions for how you want to be treated
if you become incapacitated as well as for who gets your stuff when
you're gone? What about requests for who will care for you and/or your
children?

Please feel free to post comments on our Facebook or Twitter or make
an appointment if you have individual questions or concerns. Call our
office at 305 548 5020.

Twitter: www.twitter.com/yoelmolina_mo
Faceback page: www.facebook.com/lawofficeofyoelmolina
Linkedin profile: http://tinyurl.com/linkedinpagemo
Blog: http://tinyurl.com/molawblog

"Turn to us when you need help"