Top Five Estate Planning Myths
Estate planning is an important step for every adult – but not all Columbia and Montour Counties adults have yet contacted a Pennsylvania estate planning attorney who can help. Here are the top five myths about estate planning and tips on how to protect yourself.
- I’m too young, or not wealthy enough, to need an estate plan. If you are a legal adult, an estate plan protects those you love in case of your death. If you want to control what happens to the things you own when you pass away, it is important to create an estate plan and to update it regularly.
- I don’t need an estate plan because all my assets will go to my parents/spouse/children automatically when I die. It’s true that Pennsylvania law has rules for dividing a person’s property if the person dies without an estate plan. However, these rules may not match your own wishes for your estate, and they may make matters more complicated for those you leave behind. An estate plan ensures everything goes smoothly for your loved ones in the manner you wish.
- I can just write my own will. All states, including Pennsylvania, require a will to meet certain requirements in order to be honored by a court. An attorney can help you ensure that a will is right for you and that your will meets these requirements.
- I shouldn’t use a will because it will just get tied up in probate court. Wills can be a valuable and necessary part of estate planning – just like trusts and other tools. Often, wills and trusts work together to ensure nothing is left out of your estate plan accidentally. Talk to your attorney to learn more.
- Once my estate plan is complete, I don’t have to worry about it again. As your life changes, your estate plan should change as well. Marriage, children, buying real estate, and other changes can require changes to your estate plan. An experienced lawyer will help you stay “on top” of needed changes.
Contact Kreisher Marshall & Associates, LLC for all of your Columbia and Montour Counties estate planning needs. Our attorneys and ready and willing to provide you with the legal guidance you need to ensure the protection of your loved ones in the future.