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Lack of knowledge holds some back from estate planning process

Talking about one's own mortality is not always a welcome subject. In fact, many people in California and throughout the nation avoid such topics as much as possible. However, one of the typical reasons for such discussions has to do with estate planning.

A mere 40 percent (or slightly more) of all Americans over age 18 have executed estate plans. Reasons for procrastinating vary. Some say they think they're too young and don't need to worry about such things until they're older.

Others are newlyweds who have no children, so they mistakenly believe the estate planning process is not needed in their particular situations. There are also people who say they would create a plan for their estates if only they had more knowledge and resources available to do so. Some might be interested to learn that guidance and estate planning tools are easily accessible through the office of a probate and estate administration attorney.

California readers may be surprised to learn that only about half of all American adults have implemented health care powers of attorney. Even though estate planning does not appear to be a main priority for many people in this nation, there are plenty of people who realize what a valuable tool the process can be to protect their assets and provide for their families' future financial well-beings. With no plan in place, an estate owner may be setting loved ones up for a complicated, lengthy probate process and possible contention between family members. To avoid such problems, guidance can be sought ahead of time through an experienced estate attorney.

Source: wealthmanagement.com, "Americans Not Taking Estate Planning Seriously", Feb. 22, 2017

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