Some people never get around to retaining a lawyer to prepare their will, living trust and other important estate planning documents. Here are some of the reasons we hear and our responses:
1. “I don’t need estate planning documents.”
Not having estate planning documents can result in your family, friends or charities being left out of your intended plan (or result in your property going to people who you did not intend to receive it). It can also result in additional taxes, fees, delays and disputes. The cost of the probate process can greatly exceed the cost of a comprehensive estate plan.